In November we commented upon the issues facing employers offering employee benefits should the Government press on with proposals to scrap the Default Retirement Age (DRA).

Employers and the insurance industry heaved a collective sigh of relief when the legislation confirmed that risk benefits (Life Assurance, Income Protection, Accident & Sickness and Private Medical Insurance) would be exempt.

This means that employers can continue to operate these arrangements on the current basis. Those wishing to extend cover should note that insurers are now prepared to offer terms to age 70 but many businesses may choose to link their benefits with the position of the Government which links entitlements to State Pension Age.

Click here for our November article.

For advice on how these changes may impact your business contact EBS.

Posted in business | No Comments »