Case study: Standard Life give staff the tools to choose

As one of the UK’s best-known retirement income providers, it is no great surprise that Standard Life holds pensions in high regard for its own employees.

The financial services company says pensions are the most important benefit for its workforce and is the foundation of its total reward package.

The insurer already autoenrols staff into its group flexible retirement plan, paying a 9% employer contribution.

Other perks include family private medical insurance cover, dental insurance, retail vouchers, language tuition, holiday buy and sell and childcare vouchers.

Sheena Cowan, employee benefits manager at Standard Life, says the firm gives staff the tools to help them choose the benefits most suited to their needs and which can, ultimately, complement a pension scheme.

“We believe that providing our employees with information and tools to help them make appropriate pension decisions is the way to best support them,” she says.

“Through our benefits site, we provide tools to help staff understand their attitude to risk, choose their investments, model their future and consider how much they need to save now to provide the future lifestyle they want.”

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