Health and welfare benefits
Stakeholder Pension Scheme - In line with government legislation, employees will be automatically enrolled into the Society’s pension scheme at a rate of 2% providing they meet the following criteria:
- earning over £10,000 a year (£833 a month)
- aged 22 or over; and
- under State Pension age.
The Scheme is a qualifying pension scheme, which means it meets or exceeds the government’s new standards. Once you have been auto-enrolled you may wish to pay a higher % into the Scheme, and the Society will match your contribution up to 10% helping you save more towards your pension on a regular basis.
If you do not meet the eligibility criteria, you will not be automatically enrolled, but you may still join the Scheme (and receive the matched contribution from the Society) if you so decide.
Life assurance - Provided by the Society at 4 times your salary if you are a member of the pension scheme and 3 times salary if you are not.
Private medical insurance - The Society’s Private Health Insurance is subsidised at 50% after the completion of 2 years continuous service and is 100% subsidised after 5 years continuous service, subject to the scheme rules.
Employee support helpline - The Society has a 24 hour employee support helpline, which provides advice, information and counselling services for employees and their families. The helpline is completely free and confidential at all times.
Eyecare Scheme - The Society covers the cost of employee eye tests and is registered in a Corporate Eyecare Scheme, which offers comprehensive savings on eye examinations, spectacles and contact lenses to all employees and their families.