Relevant life plans frequently asked questions
In this article we look at some of the most common questions and answers on relevant life plans.
Key facts
- A relevant life plan is a death in service plan set up and paid for by an employer.
- Relevant life plans shouldn't be used for the benefit of the business.
- Relevant life plans were created under the 2006 pension simplification legislation that came in to force on 6 April 2006.
Disclaimer
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
All references to taxation are based on our understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances of the investor.