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Tenet on the changing face of bereavement allowance

Issued: 24 March 2017

Tenet has prompted its advisers to consider the changing face of bereavement allowance and why financial intervention is so important.

The Pensions Act will replace a number of benefits, including the Widowed Parent’s Allowance (WPA) with a single system of Bereavement Support Payment (BSP) from 6th April 2017. This has huge implications for a surviving spouse going forwards, in terms of both the level of benefit and the payment term.

For example, over a 15 year period, the level of benefit a widowed parent could receive pre-6th April was £89,789.* Post-6th April, that figure drops by a dramatic 89% to a maximum payment that can be claimed of £9,800, which is based on a lump sum of £3,500 and £350 per month (non-taxable) for 18 months only.

Consequently, Tenet has reminded advisers of the increased importance of engaging with clients about their protection needs. In January, it launched a new range of protection support and tools to help ensure clients get the cover they need, which includes more specialist helpdesk support, a client-facing protection guide and other marketing support, and a more concise protection fact find and ‘demands and needs’ template. Tenet also offers a referral service, where advisers can refer protection business to a dedicated specialist, retain ownership of the client and Tenet only advises the client on the areas of business specified.

Gemma Harle, TenetLime managing director, comments

“For many years, successive governments have been a very benevolent insurer by providing nearly £6,000 per year through the widowed parent’s allowances. This is all set to change in April however and advisers have an essential role to play in educating clients and ensuring that they have suitable protection in place.”


*This is based on a surviving parent being able to claim a lump sum of £2,000 and £112.55 per week (taxable) until the children were grown up

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