UK - Engineering company VAI UK is set to launch an online benefits system for its 450 workers who are based in three locations nationwide. The system is designed to help VAI staff understand their benefits better before the firm moves to a flexible benefits package in January.
A flexible benefits system was chosen to ease the harmonisation of VAI’s UK outlets, which were acquired over the last three years.
VAI UK human resources manager Bruno Smith said: “Our current benefits vary from employee to employee because of the different companies that have joined us.
“We decided that if we could do flex in a smart way without causing an administration burden, then this would help us co-ordinate ourbenefits and therefore help our employees.”
VAI UK employs more than 450 permanent staff throughout its UK operations in Poole, Sheffield and Stockton-on-Tees.
Technology solutions provider 4th Contact designed and implemented the online benefits system and also the flexible benefits program.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.