Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • May 2012
05

More UK firms offering flexible benefit plans, says Aon Hewitt

Open-access content Wednesday 30th May 2012 — updated 5.13pm, Wednesday 29th April 2020

The number of UK companies offering flexible benefit plans to employees is on the increase as firms recognise the current economic climate and employees are given more responsibility for their own benefit provision, Aon Hewitt said today.


30 MAY 2012 | THE ACTUARY NEWSDESK: NICK MANN

According to the human resources consultancy's Employee Benefits and Trends Survey published earlier this year, 70% of companies surveyed in 2011 were either using or about to introduce flexible benefit plans, which offer features such as health insurance and additional pension contributions.

Martha How, principal consultant at Aon Hewitt, said the increased appetite for flexible benefit plans, also known as flex, was part of a permanent shift in the way employers deliver employee benefits.

'The introduction of pensions auto-enrolment later this year sees a shift in the relationship between employers, employees and benefits - with employees having to take more responsibility for their pension provision. A move towards flex is a natural extension of this increased employee engagement with benefits.'

Aon Hewitt's research also found that 82% of companies which have already implemented flexible benefit schemes believe their employees are particularly satisfied with the quality of benefits provided. The vast majority (80%) also believe they have had a positive effect in improving employee retention and recruitment, while 66% said it had improved employee engagement.

Ms How said the results of the survey showed how important it was for employers to regularly review the benefits they offer, and for employees to regularly review the benefits they chose. Doing so would ensure the benefits package continues to work for both employer and employee in the long term.

This article appeared in our May 2012 issue of The Actuary.
Click here to view this issue
Filed in:
05
Topics:
Pensions

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Underwriting Risk Manager

London (Central)
£85K-£95K + Benefits
Reference
124386

Reserving Manager (Contract)

London (Central)
£1200 - £1400 per day
Reference
124385

Life Actuary - Contract - IFRS 17 Financial Impact

England, London / England, Bristol / North Yorkshire, England
£900 - £1150 per day
Reference
124384
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2022 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ