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Employee Benefits - How will the changes announced in the Autumn Statement affect group risk cover?

By Katharine Moxham 21 February 2017

The Autumn Statement 2016 announced the outcome of the government’s consultation on restricting the fiscal advantages of salary sacrifice arrangements to benefits so that they are more equitable and reflect provision that the government specifically wants to encourage. As largely anticipated, the tax and employer national insurance (NI) advantages of salary sacrifice schemes will be removed from April 2017.

Group Risk Development’s (Grid’s) response to the consultation highlighted why excepted group life and group income protection provided as part of salary sacrifice arrangements should also be excluded from the proposed changes. The tax-relieved amounts are small and any change will simply add complexity for providers and scheme members.

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