Aon: Employers with group risk need to comply with OPRA regulations

clock
Aon: Employers with group risk need to comply with OPRA regulations

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 remainin...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Group Protection

Financial pressures top stress factor for UK employees

Financial pressures top stress factor for UK employees

New research shows

John Brazier
clock 12 August 2022 • 1 min read
Working women feel responsibility to educate young on menopause

Working women feel responsibility to educate young on menopause

According to MetLife UK research

Hemma Visavadia
clock 11 August 2022 • 2 min read
HCML acquires healthcare rm

HCML acquires healthcare rm

employee health risk management specialist

Hemma Visavadia
clock 10 August 2022 • 2 min read