GRiD Spring 2023 Budget Submission
GRiD has made a representation to HM Treasury for the upcoming Spring 2023 Budget. Our submission focuses on 2 key changes which we believe are achievable, includes background information on the issues and includes suggestions on how the changes could be implemented simply and effectively. The 2 key changes cover: 1. Excepted Group Life Policies […]
GRiD/ABI joint letter to HMRC regarding the taxation of Group Income Protection within the context of an optional remuneration arrangement (OpRA)
GRiD and the ABI have written a joint letter to HMRC further to the joint meeting between HMRC, the ABI and GRiD regarding the taxation of Group Income Protection (GIP) within the context of an optional remuneration arrangement (OpRA) and the subsequent proposals shared by HMRC. It is important to note here that this is […]
GRiD response to the Department for Work and Pensions Support with Employee Health and Disability Service feedback survey
The government has recently launched a test version of the new Support with Employee Health and Disability service which is available on GOV UK. This is a direct response to the government’s 2019 consultation, ‘Health is everyone’s business’, in which employers asked for joined-up advice on supporting health in the workplace that is easier to find […]
GRiD/ABI executive summary of HMRC’s approach to GIP OpRA Taxation and their recently published technical notes dated August 2022 and September 2022
The taxation of optional remuneration arrangements (OpRAs) changed from 6 April 2017, reducing the taxand employer National Insurance Contributions advantages for benefits provided through these arrangements. This had a complex impact on Group Income Protection (GIP) policies, which typically offer cover based on a proportion of gross salary and are generally available to all employees. […]
GRiD response to the Mental health and wellbeing plan: discussion paper and call for evidence
GRiD’s response to the Department of Health & Social Care’s Mental health and wellbeing plan: discussion paper and call for evidence. The consultation closed on 7 July 2022.
GRiD response to HM Government Disability Workforce Reporting Consultation
GRiD’s response to HM Government Disability Unit Disability Workforce Reporting Consultation. The consultation closes on 25 March 2022.
GRiD 2021 Budget Submission
GRiD has made a representation to HM Treasury for the upcoming Autumn 2021 budget. Our submission: Focuses on 3 key changes which we believe are achievable Includes background information on the issues Includes suggestions on how the changes could be implemented simply and effectively The 3 key changes cover: Excepted Group Life Policies – Inheritance […]
Action required by group risk firms to implement changes to Product Governance Sourcebook ‘PROD’ rules following the FCA’s General Insurance Pricing Practices Market Study
In the FCA 2018 / 2019 Business Plan, it announced its intention to investigate pricing practices in the retail general insurance market. The FCA published the terms of reference for this study in October 2018. In October 2019, it published its interim report which found that in 2018, 6 million customers could have saved £1.2 […]
GRiD response to FCA’s consultation CP21/13: A new Consumer Duty
This submission has been prepared by GRiD in response to the FCA consultation on Consumer Duty of Care (CP21/13) issued on 14th May 2021. Group Protection policies are taken out by the Employer/trustees to provide employee benefits to their employees and as such are not retail products. However, the consultation has stated, these provisions will […]
GRiD response to HM Revenue & Customs and HM Treasury Fifth Money Laundering Directive and Trust Registration Service Technical Consultation
GRiD has responded to the HM Revenue & Customs and HM Treasury Fifth Money Laundering Directive and Trust Registration Service Technical Consultation. In summary, GRiD was pleased with the outcome of the consultation on the transposition of the Fifth Money Laundering Directive and welcomes: the exemption of trusts that consist solely of a policy, which […]
