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No need to register Death-in-Service schemes with Customs & Revenue

Comment 8th July 2010

Pointless bureacracy – why do we have to register this scheme with Customs & Revenue. We did years ago but now required to give new insurance company a PSTR number as our old SF number was not acceptable. Had to obtain this new number online. Therefore had to pre register to obtain a Scheme ID number. This was then sent to us in the post. Once received then had to register and was given a Government Gateway ID number – again sent in post. Finally registered using these to then obtain the PSTR number that we then passed on to the Insurance company.

Quite what all this was for – i don't know and cannot see a purpose. In simply terms, we insure staff, if they die the insurer pays out to us as trustees and we pass on to the individuals elected beneficiary. Easy – why then this need for silly numbers?

Why does this matter?

Saves adminstration for government, costs (postage, paper etc). Avoids pointess work for busimess and needless recording for insurance companies.

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