Risk Assurance Management Limited’s Master Trusts

Risk Assurance Management Limited (RAM) have Master Trusts available for both Registered & Excepted Group Life schemes. To join a Master Trust, all an employer has to do is complete & return a simple Participation Form alongside the Proposal Form (for schemes participating in a Master Trust).

The Trustees are Pi Consulting Limited, a specialist firm of Trustees who are part of the Pi Partnership Group which provides a range of specialist services including independent Trustees, independent scheme secretaries, operational reviews and adviser review and selection. Established in September 2000, they are an employee-owned business, committed to delivering the very highest standards of service.

All of their services are delivered by a highly experienced team of Trustees.

Further information is available on their website:

Proposal forms can be found here in our Documents and Forms section.

What are the benefits of the Risk Assurance Management Limited Master Trust?

  • Reduced administration – Employers do not need to set up their own Trust. The Registered Master Trust has its own PSTR No. so there is no need to obtain an individual reference.
  • There is no requirement for Employers to set up a Trustee bank account.
  • Reduced costs – Employers avoid the legal costs of creating their own Trust Deed & Rules. In addition, employers can avoid engaging expensive solicitors to deal with periodic charges and exit charges where an Excepted Scheme is a discretionary trust.
  • In the unfortunate event of a claim occurring, potentially complex & sensitive decisions regarding the disbursements of the proceeds are removed from the employer & are placed in the hands of experienced, professional, Trustees.

Limitations of the Master Trusts

The Trusts have been drafted to meet the needs of the vast majority of our clients. However, the Trust Rules are generic & cannot be adjusted for an individual employer’s specific requirements. Employers should seek appropriate legal advice as to the suitability of the Master Trusts.

You can find the Trust Deed and Rules here.

It is important to note that the Master Trusts are not portable. If the policy with RAM is cancelled participation in the Master Trust ceases immediately.

What happens in the event of a claim?

Please contact us as soon as possible in the event of a claim. We will request a completed Claim Form, the Original Death Certificate or Coroner's Certificate, Evidence of Salary (if applicable), Personal Circumstances Questionnaire, a copy of the Expression of Wishes form and a copy of the Will (if available).

RAM will assess the claim in line with the Policy and its applicable Conditions and Definitions. If the claim is accepted, it is then the sole responsibility of the Trustees to decide to whom the proceeds of the claim should be paid. RAM are not involved in the decision as to whom receives the benefit of the claim, this decision is entirely down to the Trustees.

More information can be found in the FAQ’s section here.