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AIG Insurance Scheme
AIG Insurance Scheme
posted on website -- Dec 21, 2015 --
We have been informed that after the new Scottish Fire and Rescue Service started on the 1st April 2013 the Group Life & Personal Accident Scheme for existing SFRS employees changed to one where the insurance cover ends on retirement from the service.
However, those who were retired before that date (up to midnight 31st March 2013), and had opted to continue paying into a Fire Service nominated insurance scheme (i.e. AIG scheme), can continue to receive cover by transferring into the SFRS Group Life & Personal Accident Scheme.
Any retired Lothian & Borders personnel, who are existing AIG Insurance Scheme members, can transfer to the Scottish Fire and Rescue Service (SFRS) Group Life & Personal Accident Scheme.
All existing AIG members will have received a letter from them stating the Scottish Public Pensions Authority (SPPA) will no longer be deducting the monthly payments from source and, as such, you should contact AIG direct to discuss an 'alternative policy' and method of payment. To be clear AIG are not continuing their existing policy they will not offer any form of life insurance as an alternative policy
However, it would appear that existing AIG members should have been offered the opportunity to transfer to the SFRS Group Life & Personal Accident Scheme during the last year. Due to an admin error within the SFRS AIG members were not given that opportunity.
The good news is that due to the admin error SFRS will now accept existing AIG members into the their Group Life Accident Scheme. The SFRS scheme has excellent benefits for retired members (policy stops at age 65) at a monthly cost of £14.73. Details of the cover /benifits offered are available via the link to the SFRS 'Retired Members Amendment Form'. (see below)
How to Transfer to the SFRS Group Life Accident Scheme:
You need to do the following actions to become a member:
1) Complete the 'Group Life Accident Amendment Form for Retired Members' and return it to the address on the form. The form is available here Please note you must write your National Insurance number on the top of the form.
2) Set up a Standing Order for monthly payments starting on 16th Jan 2016. Details of the account to pay into are available via the cover letter from the SFRS available here Please note when you set up a standing order you will be asked for a reference number, you must use your National Insurance number as the reference.
If you require further information or clarification contact Pauline Ballantyne 01698 402267 or Lynne McGeough 01698 402244 directly at the SFRS. They are very helpful and are aware of the circumstances regarding existing AIG members.
Finally, a big thank you to Fireaway Club member Mick Crowe for investigating the possibility of joining the SFRS scheme and for passing on the relevant forms.