Shire Pharmaceuticals is to introduce a flexible benefits scheme for its 500 UK employees this month.
The scheme, provided by Vebnet, will include a corporate individual savings account (Isa), financial advice, employee-funded dental cover and a salary sacrifice arrangement for contributions to Shire’s group personal pension (GPP) scheme. These will sit alongside existing benefits, with all perks accessed through a single online point.
Staff can purchase a discounted financial advice package through Hargreaves Lansdown. Kerrie Rowland, associate director, international benefits and HR policies at Shire, said: “The first review is more expensive but more detailed. Staff can opt for annual reviews after that which have lower fees.”
Shire is also adjusting its private medical insurance (PMI) and life assurance. An excess will be added to the PMI default cover, and an option to take up a policy with no excess will be offered through flex. With life assurance, staff will be able to flex their cover down to two-times salary from the default four times or up to the lifetime allowance. Employees will also be able to extend life assurance cover to spouses.
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