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Aon calls for scrapping of MFR

Aon Consulting, is calling for the government to scrap the Minimum Funding Requirement.

Aon believes that the MFR does not provide the protection many assume it does and that it gives trustees a false sense of certainty about funding levels. Aon is proposing the MFR be replaced by a statement of funding principles that would cover the trustees&#39 policy on the funding objective for the scheme and the security to be provided.

Aon research head Simon Martin says: “Such a statement would put funding policy back in the hand of the trustees and employer.”

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Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.

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