Canada Life has simplified the processes and requirements for firms whose employees wish to continue working beyond their Expected Normal Retirement Age (ENRA).
The provider says this is necessary in light of the Government's current review of the default retirement age and intention of more adults to work beyond the present standard retirement age. Its deferred retirement option is now available on both group life and group income protection (GIP) insurance, making it easy to provide cover for those who want to continue working. It has also enhanced its temporary cover arrangements to help reduce the potential risk of under-insurance for employers. Assuming the employer has included the deferred retirement option, those working beyond the...
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