Frequently Asked Questions

No. The changes do not affect the benefits that you currently have with Welplan.

No. There will be no change to the costs of your benefits. The decision around the prices that we charge are made on an annual basis with the input of an actuary following a review of the claim’s performance. How changes to the costs of your benefits might be affected are described in the Terms and Conditions.

As part of the process of updating the deeds Welplan wishes to ensure that all employers have access to the new documents.   A lot of our relationships date back over 20 years, and this is an opportunity to bring things up to date.

No. The new documents don’t change any of the procedures you currently follow.

No. Welplan Ltd undertakes two roles - firstly it is the corporate trustee and is also appointed as the administrator of the trusts. This means we have the responsibility to make sure that the Trust Deeds are followed and we run the day-to-day management of the Schemes.

A discretionary trust is a type of trust arrangement that is set up to provide certain benefits to its participating members or their beneficiaries.  In this context, a "discretionary trust" means that the trustee of the scheme has the discretion to decide if, how and when to distribute the benefits among the beneficiaries. 

Welplan is not an insurance provider. This does not mean that it is harder to get claims paid under a discretionary trust. Instead, the discretionary nature of the trusts allows Welplan to take a more flexible approach when settling claims than an insurance company would normally do.

They have always been provided as discretionary trusts.

The two Welplan Trusts were established in 1975 and have been operating in the same form since then. They were created by the Building Engineering Services Association who continue to be the sponsor and Principal Employer for the schemes.

The two TICA Trusts were set up in 1990 and have been operating in the same form since then. They were created by the Thermal Insulation Contractors Association who continue to be the sponsor and Principal Employer for the schemes.

All claims must be supported by evidence. This may be medical evidence or in the case of lump sum death benefit any claimant will need to satisfy the Trustee that their claim is valid. Claims are investigated carefully and if any discrepancies are found the claim may be rejected.

No. If you are an existing customer, you have already agreed to the rules of the trust. You may wish to retain a copy for your reference.

The lump sum death benefit is covered by a separate trust to the other benefits so that we can take advantage of specific HMRC rules. The scheme is registered with them as a “pension” so that when the lump sum is paid out it can be made tax free.  

No. The terms of business which relate to your relationship with Welplan are mainly governed by the Terms and Conditions, the Schedules of Benefits and the Payment Schedules which include information on payment terms, privacy rules, obligations of the employer, complaints procedures etc.

No. Due to the nature of the discretionary trusts the arrangement we have with you is not an insurance contract. Please refer to question 6 on the discretionary nature of the trusts.

No. The terms on which you employee people are not impacted by the trust deeds.  

The most relevant sections for a Participating Employer are:

Clause 4: Participating Employers – this outlines the responsibilities when joining the scheme/s and leaving the scheme.

Clause 6: Participating Employers’ Contribution – describes the obligation to pay contributions.

Schedule 1: Definitions – this schedule itemises the definitions of important legal terms within the whole document.

Schedule 2: The Rules – this schedule lays out the rules around eligibility, payment of claims etc.

The remainder of the document describes the powers Welplan Ltd has as the corporate trustee and explains how the trust is managed.