MetLife UK has launched a master trust for its group life customers as it looks to expand in the employee benefits space.
The master trust was launched on 25 March and is available to companies that take out a MetLife group life policy. There is no extra charge for using the master trust.
The trustee of the master trust is Castlewood Trust Corporation Limited.
MetLife UK employee benefits director Stephanie Baillie says: “Small and medium-sized employers have told us that setting up a registered scheme under a discretionary trust can be a barrier to putting in place tax-advantageous group life benefits for their staff.
“Offering access to a master trust to employers reduces administration time and will ease the process for employers.”