Moving the Financial Resilience debate forwards

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Now that the dust has settled after the consultations on the Green Paper and the new single financial guidance body (SFGB) it is time to look forward to how we can make progress towards making the households of the UK resilient in the event of sickness absence, writes Richard Walsh.

The facts are stark. 1.8 million people are off work sick for more than 4 weeks in any given year; 70% of longer term absence is in those employed by SMEs and 60% of absence is accounted for by women. Yet 2016 MAS research shows that over 16 million people have savings under £100 and only around 3 million people are covered by IP bought by themselves or their employer. The scope for growing this market is huge. So what next. First we need the Government to set up a high profile task force...

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