OPTIONS & BENEFITS AVAILABLE TO EMPLOYEES

Speaker

Steve Owen

Financial Consultant – Rees Astley

RECRUITMENT & RETENTION OF STAFF

Rees Astley is an Independent Financial Adviser and Commercial Insurance Broker

Offices situated in Aberystwyth, Newtown , Oswestry and a NEW office in Pontesbury

Clients based throughout Mid & West Wales, Shropshire and

beyond

Established for almost 40 years

Pride ourselves on expert, professional advice and high level of personal service

Long standing reputation in the communities we serve

• Today people in UK are living longer than ever before

• Real value of state benefits are reducing

• Workplace health is becoming a priority

• Workplace absence costs business £13 billion p.a

• Can improve employee performance by 9%

• For every £1 spent, return on investment of £3.73 **

• Getting staff back to work as quickly as possible

** Harvard Medical School Study of Unilever employees in UK 2005

If employing 5 or more staff you should offer a Stakeholder or equivalent

Pensions reform – Government want to get more people saving for retirement

By 2012, if earning over £5,035 automatically enrolled into existing workplace scheme or Personal Account

Pensions

Default Contribution 8% of earnings Between £5,035 and £33,500

4% by employer3% by employee

1% Tax

Pensions

Pensions are not going to go away

Eg. Single contribution £5,000 gross

£4,000 actual cost

• Cover up to 75% of staff wages

• Select deferred period 4/13/26/52 weeks

• Select age for end date 60/65

• Unable to carry out own occupation

• Rated upon occupation

• Group Accident/Sickness• Cover up to max 2 years

Income Protection

Business Health Care (Medical Insurance)Core healthcare module

• Full cover for in-patient & Day-patient treatment, including nursing, room, drugs, theatre, tests, specialist fees (including surgeons and anaesthetists)

• Full cover In-patient physiotherapy

• Full cover In-patient, day-patient & out-patient radiotherapy, chemotherapy and oncologist fees

• Full cover MRI/CT/PET scans

• £250 NHS In-patient cash per night (£2K max pa), £125 NHS day case cash (£500 max pa)

• Private ambulance

• Health & well-being

• No limit on maximum annual benefit

Business Health Care (Medical Insurance)Core healthcare module

• Full cover for in-patient & Day-patient treatment, including nursing, room, drugs, theatre, tests, specialist fees (including surgeons and anaesthetists)

• Full cover In-patient physiotherapy

• Full cover In-patient, day-patient & out-patient radiotherapy, chemotherapy and oncologist fees

• Full cover MRI/CT/PET scans

• £250 NHS In-patient cash per night (£2K max pa), £125 NHS day case cash (£500 max pa)

• Private ambulance

• Health & well-being

• No limit on maximum annual benefit

Example – Healthcare for 12 members - £400 per month

or £34 per member

Including Dental Cover

• Level 1 – Major dental

• Level 2 – As level 1 but with preventative benefits twice a year

• Level 3 – As level 2 but with higher cash value of benefits

£3.26 per member/month

£12.25 per member/month

£21.50 per member/month

Spouse Family

X2 x2.5

Business Health Care (Medical Insurance)

Caring employer providing life assurance for staff and their

families

Group Life Assurance

Example for a company

Number of employees – 40

Total Sum Assured - £3.3M

Yearly rate £6623£550 per month

• Renewable yearly

• Based on multiples of salary – 3 or 5 times

Group Life Assurance

We offer products from the whole marketplace

We will advise and make a recommendation for you after we have assessed your needs

How we work

We will tell you how we get paid, and the amount, before we carry out any business for you

Topics covered included:

• Pensions

• Income Protection

• Business Health Care

• Group Life Assurance

Summary