The ageing society, mental health and wellness are all driving the group risk agenda.  Trends which have been talked about for years are now reality, and both employers and group risk providers are having to adapt.  Morag Livingston shares her thoughts on these challenges.

The most notable example is the ageing workforce, brought about as a result of demographic shifts but also changes to state pension age, company pension schemes and the wider post-recession economic environment.

There are areas in which employers need to take action, however. Group Risk Development (GRiD) spokesperson Katharine Moxham points out that while employers are not legally obliged to extend provision of insured group risk benefits beyond age 65 or the state pension age, many are choosing to do so as their population ages.

More generally, there is a strong business case for employers making use of the support services that are available through group risk products, including Employee Assistance Programmes (EAPs)

There has been a significant improvement in the quality of such products in recent years, says Secondsight head of group risk and wellbeing Morag Livingston. “Companies have had to look at new ways of adding value to their overall benefits offering,” she says. “I’d argue that now the time has come for increasing numbers of intermediaries to help drive this forward.”

Read the article in full here, featured on Professional Pensions website.

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