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...
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