Deloitte expands family policies and launches flexible pensions

Deloitte reduces partner pay by 17%Deloitte has made improvements to its family policies and will offer its 22,000 UK employees greater choice in how they receive the value of its pension contribution.

The length of its enhanced maternity and adoption pay has increased from 16 weeks of full pay and 10 weeks of half pay, to 26 weeks of full pay. Staff will now be eligible for enhanced maternity, paternity and adoption pay from their first day of employment.

The business has also amended bereavement leave for immediate family members from two days to two weeks of paid leave. Meanwhile, parents who experience the loss of a pregnancy or baby will be entitled to two weeks of paid leave for loss at any time during pregnancy.

Furthermore, as of 1 January 2023, Deloitte’s new single cover private medical insurance will include a menopause plan that will offer anyone going through the condition tailored medical support.

In addition, the firm’s new flexible pensions policy will allow staff to receive an additional cash payment as part of their regular pay instead of receiving its pension contribution if they choose. It will be providing pension modelling tools to the workforce and undertaking an annual re-enrolment of the pension to safeguard people’s choices.

Jackie Henry, managing partner for people and purpose at Deloitte UK, said: “There may be individuals, who in the short term, want to have the flexibility to receive the firm’s pensions contribution as part of their regular pay, for instance to help supplement savings for buying a first home. We know that our people are a diverse group of individuals with many different priorities and we hope these measures give them more choices to support their needs.

“Taking care of our people at all the important life stages has never been so important. The improvements we’re announcing will help make the firm a more inclusive place to work and ensure that we’re putting our people’s wellbeing first. We want to give our people the best support at these important times in their lives.”