Paul Avis: Ensure benefit cease ages are fit for purpose

A recently adjudicated Financial Ombudsman Service (FOS) case highlighted the importance of making sure a business's benefit scheme cease ages are in line with current legislation. It is imperative that organisations and their advisers review this area as a priority. One organisation had started its group income protection scheme in 2005 and opted for a benefit cease age of 60 - fortunately for both men and women. A claim was accepted and being paid but the male claimant, upon realising the benefit would cease at 60, complained to the FOS the insurer should pay through to the greater of ...