Ashley Matthews

• Changing Total and Permanent Disablement (TPD) Definitions

  20th Sep 2016

  Historically, TPD definitions have usually been consistent with the definition of permanent incapacity under r1.03C of the Superannuation Industry (Supervision) Regulations 1994 which requires that the member’s ill-health render them unlikely to ever engage in gainful employment for which they are reasonably qualified by education, training or experience. However, insurers are increasingly amending their TPD definitions, because some stakeholders argue that too many claims are being paid out due to ‘generous’ TPD definitions.