TD Waterhouse revamps flexible benefits after acquisition

TD Waterhouse has revamped its flexible benefits and integrated 160 new staff from an acquired company

In October, the stockbroker acquired OMX Securities, whose staff were given access to all TD Waterhouse perks except its pension scheme and were invited to enrol in last month’s flex window.

Anne Barnett, compensation and benefits manager, said the harmonisation process was relatively straightforward as the two firms’ benefits were already similar. “The private medical and risk benefits OMX staff had were quite easy to get in line with ours, and bring under the same providers and the same terms.”

Changes to the flex scheme included removal of the tax-efficient mobile phone scheme, because of low take-up and because the firm has recently renegotiated a corporate contract with O2.

New perks include a salary sacrifice bus pass scheme, provided by P&MM, which will be available in Leeds, Manchester and Birmingham.

Staff will be able to buy annual bus tickets from their gross salary, so they are free from tax and national insurance.

A wine club was also added. In addition, TD Waterhouse has launched a new online voluntary benefits scheme.

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