ClosePress release 28 March 2024.
The Work and Pensions Committee has today released its enquiry report on improving Statutory Sick Pay.
Commenting on the report, GRiD spokesperson, Katharine Moxham, said:
“GRiD supports Government reforming Statutory Sick Pay (SSP). This would create a stronger safety net for employees underpinned by more comprehensive financial support from employers and a clearer pathway back to work, with insurance (and its support services) available to help them manage this risk. Increased SSP liability would strengthen the workplace link and encourage employers to invest in workplace health, as well as improve safety nets and deliver fiscal benefits to the Exchequer, by helping people to remain in productive employment. The Government should consider how smaller employers can be supported (e.g. conditional rebate if they can demonstrate sufficient employee support is in place), so that they are not overly burdened by increased SSP contributions.
“We’re pleased to see that the report recognises the role that group income protection (GIP) could play, particularly in helping small businesses cover the cost of sick pay and, along with the Work & Pensions Committee, we welcome the Government’s plans to work with employers to raise awareness of the benefits of GIP.“
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For further information please contact:
Sharon Mason
SMUK Marketing and PR
smason@smuk.org.uk
Mob: 07747 611773
Land: 01252 843350
Katharine Moxham
Spokesperson for GRiD
Katharine.moxham@grouprisk.org.uk
Mob: 07887 512508
Notes for editors
About GRiD
Group Risk Development (GRiD) is the industry body for the group risk sector, promoting the value to UK businesses of providing financial protection for their staff, enhancing their well-being and improving employee engagement. Our membership includes insurers, reinsurers, intermediaries and those operating in (or with other interests in) the UK group risk market. Together this forms a collective wealth of experience built over many years. Under the chairmanship of Colin Fitzgerald (Distribution Director – Group Protection, L&G Retail) GRiD aims to promote group risk through a collective voice to Government, policymakers, stakeholders and employers.
GRiD works with government departments and regulators involved in legislation and regulation affecting group risk benefits, and with other organisations involved in the benefits and financial protection arenas. GRiD also seeks to enhance the industry's standing by encouraging best practice and by participating in industry-wide initiatives such as the professional qualification in group risk managed jointly with the Chartered Insurance Institute.
GRiD’s media activity aims to generate a wider awareness and understanding of group risk products and their benefits for employers and employees.
GRiD's dedicated spokesperson, Katharine Moxham, provides expert media comment on a full range of group risk issues.
Follow Katharine Moxham on Twitter @KMoxham
