Jardine Lloyd Thompson (JLT) has been appointed by Rockwell Collins (UK) Limited to launch a Flexible Benefits scheme for the company. “We are seeing Flexible Benefits used as part of an employers overall benefits offering where employers are withdrawing from a final salary pension arrangement and moving to a money purchase pension arrangement,” says Paul Clark, Regional Managing Director, JLT. “The use of Salary Sacrifice can help provide a greater return on investment for the employer by enhancing their benefits on a cost neutral basis. It is also key that employees understand what they currently get before they can flex their benefits. Producing a personalised Total Reward Statement will help improve employees’ understanding and appreciation of the benefits they receive.”
The scheme went live this week with employees being able to choose from a range of benefits. The service is managed out of JLT’s Manchester office.
“We were keen to promote to employees that they should take responsibility for their employee benefits, especially encouraging savings for their retirement,” says Ken Logan, Head of Human Resources, Rockwell Collins (UK) Limited. “Rockwell Collins (UK) Limited are fully committed to supporting a more cost effective benefits package and through working closely with JLT we have started to see some savings. During the implementation we have been impressed with JLT’s ability to accommodate our requirements and deliver the required solution on time and to budget. The project has enabled us to forge a very good rapport with all of the JLT team.”