introducing benefex corporate benefits
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Corporate Benefits
Introducing Benefex
ContentsIntroduction 4
Marketplace 6Leisure & lifestyle 8
Health & wellbeing 12
Financial & protection 16
Tailored benefits 20
Benefex broking customers 23
3
Introduction
4
Who are Corporate Benefits?
Tailored benefits
Where a more customised
approach is required, we can
undertake a bespoke review,
and recommend the perfect
solution for you.
Marketplace benefits
Quickly and efficiently implement
your offering, choosing from our
suite of pre-approved, tested,
and ready-to-go benefits.
Benefex Financial Solutions are passionate
about working with employers to deliver
innovative, sustainable and engaging
benefits solutions that are the best fit for
our customers’ objectives and budgets. Our
established (FCA regulated) and excellent
reputation means we can negotiate the best
employee benefits package for you because
we have long-standing relationships with
some of the world’s largest benefits providers.
In addition, we’re experts in implementing
benefits in a cost-effective manner using
salary sacrifice. We specialise in strategic
benefit design, projection of claims costs,
monitoring legislation and insurance markets,
international scheme development, and
claims administration and handling. What’s
more, we manage the relationship with
providers, so you can get on with doing
what you do best!
Our team combines years of expertise across
a range of employee benefits, from pension,
private medical, to group income protection
and group life, employee wellbeing, flexible
benefits and occupational health. You have
a single point of contact, with no risk of
uninsured liabilities or conflict of cover.
How does our team work?
The Corporate Benefits team is independent
and, as such, can source solutions from the
whole market whether that is regulated and
non-regulated benefits, offering both tailored
and off-the-shelf solutions.
5
A bespoke approachYou can choose from two broking options, or mix
and match to get the best blend for your scheme:
Authorised and regulated by the FCA
Broking arm of Benefex
The specialist flex broker
Fully integrated platform solution
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We have built great relationships with the leading providers in the market. We’ve created a portfolio of ‘off the shelf’ benefits, which are predetermined, competitively priced, and easy to implement.
Why use Marketplace?
If you choose benefits from the Marketplace, you’ll
immediately notice how quickly we can set them up
for you! All of the legwork has already been done;
we have sourced the providers, defined the rules,
configured the benefit within OneHub, and we have
agreed the terms and conditions with the providers.
Your employees will save costs due to negotiation of
competitive rates using our purchasing power (we have
a lot of great customers!). To ensure all Marketplace
providers meet our high expectations, they have all
been vetted for high quality products and compliance.
They have all passed the Benefex assault course…
Brand reputation. We only work with the best, most
reliable brands out there to bring their wealth of
knowledge and expertise to Marketplace.
Financial appraisal. Our Finance team have
undertaken a financial appraisal of all Marketplace
providers. Their financial strength and longevity
has been proven using Experian credit ratings, signed
accounts and key ratio analysis.
Administration processes. We have agreed efficient
and robust processes with providers to manage benefit
selection and associated administration, with minimal
input from you.
Helpdesk support. We ensure providers have proven
helpdesk capability, with measurable performance
targets to guarantee a quality level of support for both
you and your employees.
Security compliance. All providers have the required
security controls in place, so your data is safe. Our
assessment covers various security and legal standards,
such as ISO27001:2013 and ISO27002: 2013, Her
Majesty’s Government – Security Policy Framework,
The Data Protection Act 2018, OWASP – Open Web
Application Security Project.
Quality of product. All products have been assessed
for their overall strength and marketability with value
added features and differentiators.
Account management. We provide a dedicated
account management team to assist in the day-to-day
running of the benefit and provide
support where required.
Marketplace
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Leisure & lifestyle
T
A
EENI
ERNI
Employee Tax Savings
Anytime
Employee National Insurance Savings
Employer National Insurance Savings
KEY
Please note: Tax and National Insurance
savings apply when run by Salary Sacrifice
or if the employer funds the benefit.
Car Salary SacrificeA brand new car for lessA cost-effective way for employees to drive a
brand new, energy efficient car, fully-maintained
and insured.
Provider: Tusker
AERNI*EENIT*
*with qualifying vehicles
Innovative new benefit"Benefex instantly understood what
Travel Accounts were all about and how
it could add real value to their customers’
employees. The average family spend two
months’ salary on their annual holiday
and Benefex seized on the fact that Travel
Accounts are unique in their approach to
help employees spread the cost of this
really important expense with no direct
costs for the employer. Their team helped
us perfect our product, implement into
our first customer and continue to support
us as we grow. Benefex ensure all their
customers are aware of this innovative
new benefit and the feedback we get from
our mutual customers is really positive."
Mike Bartlett, CEO Travel Accounts Ltd
Gym MembershipGetting fit and saving moneyHelp your employees to get fit and healthy, and
keep more in their pocket through discounted
membership rates.
Provider: Gymflex
AEENI
Process excellence“Hawk Incentives have worked with
Benefex to create a first-class user
experience using an integrated two-
way Single Sign On (SSO) process. This
enables employees to spread the cost
of world-class products directly fulfilled
by Apple. The simplicity of the system
delivers an effortless, enjoyable process,
allowing employees to purchase their
new products, stress-free.”
Julie Coxhill, Product Director Hawk Incentives
TechnologyFor all your workplace technophilesEmployees can keep pace with the latest technology
and take-home devices from top brands including
Sony, Apple and HP, whilst spreading the cost.
Provider: Hawk Incentives
AEENI
10 1111
Activity PassHelping employees treat their familiesEmployees have access to hundreds of huge
savings nationwide on days out, cinema
tickets, restaurants and more.
Provider: Kids Pass
AEENI
Experience DaysHelp your people to take time outEmployees can indulge in an activity they’ve always
wanted to try, from a spa day to driving a Ferrari
and sky dive to a gourmet meal at the Shard.
Provider: Virgin Incentives
EENI
Charitable GivingLend a Helping HandEmployees can make donations to any UK
charity of their choice.
Provider: Charities Trust, CAF
T A
Cycle to WorkEncourage health and wellbeing at workEmployees can get a new bike for their commute, and
spread the cost over 12 months.
Provider: Halfords, Evans Cycles, CycleScheme,
Cycle Solutions
T AERNIEENI
Retail Vouchers & CardsHigh street discounts for your employeesEmployees can save money in high street stores with
discounted retail voucher cards.
Provider: Purecard, Flexbank
A
Beauty and Fitness discount CardAmazing discountsGuaranteed discounts on thousands of treatments
and fitness sessions nationwide including hairdressers,
beauty salons, spas, bootcamps & personal trainers.
Provider: Fabyouless
AEENI
Wine ClubFor all your wine-loversEmployees will receive six bottles of expertly
selected wine per month, delivered to their home.
Provider: Laithwaite’s
EENI
Childcare VouchersA huge help for parentsYour employees can save on childcare costs by
selecting vouchers of up to £243, dependent on
personal tax rate.
Provider: Allsave. Fideliti
T AERNIEENI
Restaurant Discount CardEat more, spend lessEmployees can get money off their bill at
over 10,000 restaurants in the UK.
Provider: tastecard & Gourmet Society
AEENI
Travel AccountsHere comes the SunEmployees can spread the cost of a holiday over
the year, with no financial checks.
Provider: Travel Accounts
A
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Marketplace Benefits
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Health ScreeningPeace of mindEmployees can have a personal health check which can
identify early warning signs for potential health issues.
Provider: Bluecrest, Nuffield Health
ERNI*EENI
Healthcare Cash PlanMoney back on everyday healthcare expensesMoney back for employees on the cost of routine
healthcare treatments, such as eye tests and
dental treatments.
Provider: Simplyhealth, Westfield Health
Fitness & Nutrition InsightUnlocking genetic potentialProvides discounted access to a simple test which
allows employees to better understand how their DNA
affects their response to exercise and nutrition changes.
Provider: DNAFit
EENI
Excellent provider relationships “Benefex were conducting a market review for one of their major customers wishing to
introduce a new cancer screening benefit for their employees. We worked with Benefex to
create an offering which combined our general health screenings with a cancer screen all
carried out in one visit. It was a great way to show our flexibility, and how we can work with
an employee benefit provider to not only give the customer what they wanted but more.
The customer was extremely happy with the proposal and it is now live within their scheme.”
Mark Marriott, Director of Customer Relationships, Bluecrest Health Screening Ltd.
Health & wellbeing
Health Improvement PlansEncouraging healthier lifestylesComprehensive health assessments supported
by ongoing coaching and health monitoring to
encourage continuous health improvement.
Provider: LiveSmart
A EENI
A EENI
*(if funded as a core benefit)
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Dental InsuranceMoney-back on dental treatmentsEmployees can claim back up
to 100% of the cost of dental
treatments for a regular monthly
fee.
Provider: Unum, Simply Health
EENI
Voluntary Private Medical InsuranceLooking after health and wellbeingQuick and convenient access to
eligible private medical treatment,
when your employees need it most.
Provider: PHC
EENI A
16 17
Motor BreakdownHelping employees on the roadAssistance for employees in the event of a
breakdown on the road.
Provider: RAC
EENI
Financial & protection
Personal Accident InsuranceSafeguarding against bad luckEmployees can cover themselves
and dependants for the unfortunate
event of an accident.
Provider: Crispin Speers (CSP)
EENI
Legal for LifeSupport in a time of needHelp employees navigate complex legal
situations with a wealth of online legal
document and advice services.
Provider: Epoq
T
Travel InsuranceFor happy campersGet fantastic cover at low costs for employees and
their families whilst on trips abroad or in the UK.
Provider: Chubb
EENI
*rates quoted per customer
*rates quoted per customer
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Partner Life AssuranceProviding support when employees need it mostFinancial security for employees and their families in the
event their spouse or civil partner passes away.
Provider: Canada Life
*Any payment received from a claim is free of
tax. Monthly deductions are taxable.
EENIT ERNIA EENI
Will WritingSafeguarding the important things in lifeGive your employees an accessible and easy to use Will
Writing and Lasting Powers of Attorney service, allowing
them to ensure their final wishes are carried out.
Provider: James McKenzie, Red Apple
Financial PlanningFinancial planning for everybodyFace to face coaching and online tools to help employees
make the most of their money and achieve their goals
Provider: Hatch
EENIT ERNI
Pension Advice VouchersSaving on the cost of financial adviceEmployees can claim a tax-free cash
reimbursement to cover the cost of financial advice
related to their pension, up to £500 per year.
Provider: Pension Advice Vouchers
EENIT ERNI A
1919
2020 21
Tailored benefits
w
We’re here to help you design and source the right choice of benefits for your business. We offer expert advice to help you achieve your goals and strategy, whether it’s increasing retention, improving your employees’ experience, or simply reducing costs or risk.
Why use Tailored Benefits?
We can design, source and implement both regulated
and non-regulated products, and support you at
any given point during the benefit cycle. The team’s
strong provider relationships allow us to secure
competitive prices for our customers. We work with
the providers on your behalf and have access to
their future product development plans – meaning
we have visibility of what might complement your
scheme design well in advance. A tailored approach
is common for more complex requirementsT ERNIEENI
2121
In addition to the Marketplace benefits (which can all be tailored as well), we offer the following:
PensionsPeace of mind for employees after retirementPensions can be complex, however the expert
Corporate Benefits team can help bring clarity
and insight to your pension scheme, as well as
supporting your compliance requirements.
We provide our customers with a range of services:
• Customer pension strategy meetings
• Review of pension investment performance
• Benchmarking of charges against
legislative requirements
• Comparisons with market
• Review of procedures to auto-enrol, and
communicate with employees
• Analysis of information reports from
pension providers
• Pension governance facilitation
• Employee support including pension presentations
and pension member surgeries
• Review of investment fund performance
and pension providers
• Compliance check against auto-enrolment rules
• Pension communications
• Market awareness
Experts in our fieldA new customer came to Benefex with the
requirement to replicate their entire existing
scheme on a 1,500 employee TUPE transfer
covering 15 bespoke benefits with tight
deadlines. In order to achieve this with such a
tight turnaround required, twice-weekly calls
and regular meetings were held with the
customer to ensure the project remained on
track, often achieving sign-off on documents
immediately after a workshop. This meant
the customer successfully launched their
scheme within a three-month window with
the support of the Corporate Benefits team
every step of the way!
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Benefex Broking Customers include:
Please contact Corporate Benefits on:E: corporatebenefits@benefex.co.uk
T: 0845 129 8636
Life InsuranceLook after dependants in the futureYour employees’ beneficiaries can benefit from a
tax-free lump sum or death in service pension in
the event of death.
Tax and NI position can vary depending on how benefit is structured.
T ERNIEENI
Income ProtectionProtect against the unexpectedGroup income protection provides employees
with longer-term financial support should they
be unable to work due to illness or injury.
T ERNIEENI Private Medical InsuranceMedical treatment complementary to the NHS.Cover is provided primarily for the treatment of acute
conditions where the insured’s health can be improved
or restored by medical procedures. It can also cover
therapy treatments such as physiotherapy, osteopathy
and chiropractic treatment.
EENI
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Tailored Benefits
Critical Illness InsurancePrepare your employees in case serious illness strikesCritical Illness provides a tax free lump sum payment
to the insured should they be diagnosed with a critical
illness covered under the policy.
EENI
hellobenefex.comE: corporatebenefits@benefex.co.uk @hellobenefex Benefex
This document is designed and presented for commercial customers only. Information given on regulated and unregulated
products does not constitute any recommendations or advice. Benefex and Corporate Benefits are trading names of Benefex
Financial Solutions Limited. Benefex Financial Solutions Limited is authorised and regulated by the Financial Conduct Authority.
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