Lot 1 Managed Service
The Managed Service Provider (MSP) will work with employers to develop and manage a ‘total benefits’ package, offering a full range of staff benefits to employees. The staff benefits will comprise of a number of popular schemes and voluntary benefits as required. This may also include emerging and innovative benefits as employers look for alternative ways to reward employees. It is advisable that organisations considering using the managed service will be looking to take up two or more benefits; otherwise the standalone benefits may be more suitable.
Lot 2 Cycle to Work
Bike loans operated through salary sacrifice arrangements typically run over 12 or 18 months. The employee must use the bike to travel, for some part at least, between home and work. As payments are made from employees' gross salary, they are made free from income tax and national insurance (NI), while employers also save the NI contributions.
Lot 3 Financial Wellbeing
A scheme for employees who wish to to address their financial wellbeing via routes such as consolidation of loan repayments, saving options and general financial advice. Payments will be made directly from an employee’s wages. Please note that Customers and their Employees should satisfy themselves that loan and savings rates offered are competitive.
Lot 4 Technology Products
New technology can be purchased through this arrangement by employees.
Lot 5 Leisure and Retail
Employers offer employees the opportunity to purchase a range of products and services at discounted rates. The offers consist of discounted retail vouchers, re-loadable cards and cash-back. The products and services available comprise of discounts on shopping, food and drink, entertainment and travel. Examples of these benefits include (but are not limited to) High-street and Retail Discounts, Corporate Gym Membership, Leisure Activity Discounts, Restaurant chains, Supermarkets, Department Stores, Online fashion, DIY, Home entertainment & electrics, Holiday & Travel, Toys, Gifts & Books.
Lot 6 Car Leasing
A scheme for car leasing enables employees to acquire a brand new car. The cost of leasing the car is deducted directly from an employee’s wages. Please note that Customers and Employees should satisfy themselves that lease costs are competitive.
Lot 7 Childcare Vouchers
Childcare Vouchers allow employees to fund registered childcare for their children. Childcare vouchers can be used to pay for all types of registered childcare across the UK, including but not exclusive to childminders, holiday schemes, nannies, au pairs, nurseries, after school clubs, playgroups and crèches. These schemes are now closed to new applicants (employees), but Employers will still need to have contracts in place for the provision of these schemes. If the employee did not join the scheme before 4 October 2018, they will need to apply for Tax-Free Childcare via the UK Government website. For more information on childcare vouchers, please consult the information provided by the UK government: https://www.gov.uk/help-with-childcare-costs/childcare-vouchers
