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It provides access to a healthcare cash plan , an employee assistance programme and lifeinsurance for up to three people. Additional voluntarybenefits include private medical insurance, payroll giving, bikes-for-work, critical illness cover, a cash plan upgrade options and the choice of two pension schemes.
Health insurance Those benefits provide a baseline of employee expectations. Besides these core benefits, there are many perks and fringe benefits a company can offer to round out the benefits package. Health insurance 2. Pension or retirement savings plan 3. Dental or vision insurance 4.
The UK government has divided the various employee benefits into two categories: mandatory benefits and non-mandatory benefits. Pensions are a compulsory benefit provided by employers in the UK. Types of employee benefits in the UK Here are some of the best employee benefits in the UK.
The benefits on offer at Wave: Pension A master trust pension scheme for all employees. Group income protection employer-paid for all employees, subject to acceptance by the insurer. Age limits are 16 to state pension age. Lifeinsurance for all employees with a death-in-service benefit of four-times salary.
Credit: tomertu/Shutterstock Need to know: Benefits strategies have evolved because of influences including employee expectation, cost and the pandemic. Flexible benefits , voluntarybenefits, and allowances or pots offer the potential for greater personalisation. Developments in this space may chip away at these rules.
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