|
Flex Plans provide versatility to suit different employees
or situations within the same company.
The employees have a menu of options from which they
can design a plan to meet their individual needs.
For
instance
- Older employees generally place
more importance on retirement benefits, whereas younger
employees may prefer cash or vouchers
- Dual income households often have
several benefits duplicated, but a flexible plan could
eliminate or minimise this duplication.
Flex Plans provide a solution by meeting the changing
dynamics of the workforce.
When designing a Flex Plan, it is desirable to set
up compulsory core benefits such as:
- retirement pension
- disability benefit
- death cover
- holidays.
Then, each employee plan consists of these core benefits
plus the options most suited to the employee's individual
needs.
| Core benefits |
Optional benefits |
| Retirement benefits |
Additional or enhanced
benefits |
| Death cover |
Company shares |
| Disability benefits |
Company car |
| Holidays |
Health cover |
| |
Critical illness cover |
| |
Child care |
| |
Mortgage assistance |
| |
Health screening |
| |
Additional or reduced holidays |
For further information on Flex plans please contact
us
|
