The Institute and Faculty of Actuaries (IFoA) has called for an auto-enrolment style scheme for group income protection (GIP) in its Green Paper response.
A flexible system of auto-enrolment could help to increase GIP coverage as take-up for income protection remains low owing to a lack of awareness of the benefits amongst both employees and employers, it said. It is the latest organisation to release its response to the Department of Health (DH) and the Department for Work and Pensions' (DWP) Improving Lives: The Work Health and Disability Green Paper. This week Unum argued in favour of tax breaks for employers that provide group income protection and other incentives in its response to the paper. The IFoA's consultation response als...
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