UK - Publishing group Informa has reported a 90% employee take-up rate within two weeks of implementing a new online flexible benefits programme.
The company installed 4th Contact software to clarify benefits available for its 1200 employers.
The online scheme provides employees with choices of pension, life cover, critical illness, private medical insurance, medical screening, dental insurance, travel insurance, gym membership, childcare vouchers and buying extra annual holiday.
Informa group human resources director Keith Brownlie said: “We had a classic iceberg principle here. The employees knew their salary – the tip of the iceberg, but they didn’t know about their pension, life cover and all those other things that people take for granted.”
4th Contact’s Richard Blundell said: “Informa loves the system and the take-up rates have been amazing.
“The company has taken a historically confusing benefits issue and turned it into a success story that’s helping motivation and providing benefit transparency for the first time.”
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers