Citigroup to launch flexible benefits scheme for UK staff

Citigroup is launching a flexible benefits scheme for its UK-based staff to go live in July, and is considering rolling it out to Spain, Russia and Poland.

The financial services company hopes the scheme will bring it into line with other organisations offering flex in the sector.

Staff will be able to buy a number of benefits through salary sacrifice. They will also be given the option to buy and sell a limited number of days’ holiday.

Benefits available include private medical insurance, critical illness cover, travel insurance, mobile phones and gym membership. Staff will also be able to buy retail vouchers and financial advice.

The scheme will enable the firm to use its buying power to give employees substantial discounts on certain products and services. It is being communicated to staff through benefits fairs, flyers and posters and will go live on 1 July.

Robert Green, benefits manager at Citigroup for Europe, the Middle East and Africa (EMEA), said the firm would consider adding more benefits to the flex platform early next year.

Citigroup is now looking at rolling the scheme out in countries where tax savings can be made, such as Spain, Poland and Russia.

Green added: “I look after EMEA and if it is possible, we will take flex there, especially if there are tax savings to be had.”