Mark Groom explains why a robust tax analysis is essential in devising a flexible benefits programme
Flexible Benefits (Flex) in outline empowers employees to determine the mix of pay and benefits they want and need at different stages in their careers and lifetimes. Any legal or other responsibilities employers are obliged or wish to fulfil can also be facilitated through Flex by specifying ‘core benefits’ employees must include within their total reward package. These will typically relate to employee wellbeing for example certain minimum levels of holiday death in service and/or annual health-checks.
Benefits are commonly provided in a combination of three options. ‘Voluntary benefits’ are those employees can purchase from net pay taking advantage of attractive supplier discounts. Secondly employers can provide employees with a ‘Flex Fund’ which allows them to select benefits up to the value of the fund....
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Mark Groom explains why a robust tax analysis is essential in devising a flexible benefits programme
Flexible Benefits (Flex) in outline empowers employees to determine the mix of pay and benefits they want and need at different stages in their careers and lifetimes. Any legal or other responsibilities employers are obliged or wish to fulfil can also be facilitated through Flex by specifying ‘core benefits’ employees must include within their total reward package. These will typically relate to employee wellbeing for example certain minimum levels of holiday death in service and/or annual health-checks.
Benefits are commonly provided in a combination of three options. ‘Voluntary benefits’ are those employees can purchase from net pay taking advantage of attractive supplier discounts. Secondly employers can provide employees with a ‘Flex Fund’ which allows them to select benefits up to the value of the fund....
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
