Aon Employee Benefits has said that employers who were hoping for a reprieve from the changes to Optional Remuneration Arrangements (OPRA) will be disappointed and must take action to comply.
OPRA is the new term for salary sacrifice and with this change comes the concept of Type A and Type B arrangements. The Finance Bill 2017 has now received Royal Assent, making it the Finance Act 2017 and while many original clauses were cut, the OPRA elements have remained largely intact. Aon warned in March that the measures, which came into effect on 6 April, could create significant and costly changes for employers. Aon says that organisations need to be aware of the remaining difference...
Some 85% of employees are more likely to work for employers offering clearly labelled benefits, research from Canada Life has found.
Wellbeing expert David Price discusses a range of practical ways employers can set about looking after the mental health of their staff during the seasonal period
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.