EMPLOYEE BENEFITS
EMPLOYEE BENEFITS
03
SECTION A : BEAUMONT CONSULTING LTD
01.
INDEX
5
About Beaumont Consulting
02.
MERCER INTRODUCTION DOCUMENT
7
03.
PRIVATE MEDICAL
8
Beaumont Consulting Notes on Private Medical Mercer Summary of Private Medical
04.
LIFE ASSURANCE
12
Beaumont Consulting Notes on Life Assurance Plan Mercer Summary of Life Assurance Plan
05.
EMPLOYEE PERFORMANCE SUPPORT
16
06.
JOINT SHARE OWNERSHIP PLAN
18
SECTION B : WE2
01.
WE2 INDEX
21
02.
WE2 INTRODUCTION
23
03.
VDOC
25
04.
BERKSHIRE TAX PRACTICE
27
05.
PERKBOX
29
06.
CENTTRIP
30
07.
LARGE MORTGAGE LOANS
33
08.
MILLION PLUS FINANCIAL PLANNING
34
EMPLOYEE BENEFITS
05
INDEX 01.
PRIVATE MEDICAL (BUPA)
8
02.
LIFE ASSURANCE (UNUM)
12
03.
EMPLOYEE PERFORMANCE SUPPORT
16
04.
JOINT SHARE OWNERSHIP PLAN
18
ABOUT BEAUMONT CONSULTING We are specialists in the provision of compliance services and solutions to the financial services sector across Europe. The unique way in which we are structured provides our clients with numerous advantages over the traditional agency led temporary sector; our members own our business and are committed to growing our brand and reputation ensuring the highest standards of excellence are always delivered. Our strength and depth in numbers ensures we are ideally positioned to meet the needs of any potential client, whether it be a single specialist for a limited period or a project wider in scope and requirements. Our clients enjoy the benefits of dealing with a single counter-part which greatly simplifies their invoicing and finance functions whilst removing risks often associated with the temporary market such as IR35 and more recently General Data Protection Regulation (GDPR)
EMPLOYEE BENEFITS
02.
07
MERCER INTRODUCTION DOCUMENT
Summary of benefit arrangements As a BCL employee, you can be provided with a wide range of benefit plans through their benefits partner Elect These benefits allow you to provide important financial protection and allow you to access private healthcare when you need it most. The provision of these benefits will cease upon termination of your employment with BCL due to resignation or termination by the employer. BCL provides the following benefits for all employees A Private Medical Insurance Plan (Bupa) A Group Life Assurance Plan (Unum) An Employee Assistance Programme (Unum Lifeworks)
The cost of cover The pricing of each policy for an Individual is influenced by many factors, including but not limited to: medical history, location, age and gender. This means there is not a predefined monthly cost for the cover and the premium will vary between individuals. However it is expected that, because of the manner in which group schemes are assessed for risk and therefore priced and structured, it will reduce your individual cost whilst also giving you access to underwriting methods, additional benefits and services not ordinarily available to Individual customers.
The purpose of this guide This document is designed to present the potential benefits that maybe offered to employees, and should not be taken as BCL’s actual resulting offering. These benefits are yet to be implemented and the cover levels may change at any time at the discretion of BCL. This guide is for information only and is not personal financial advice. If you require financial advice you should seek this from an authorised financial adviser. This guide is based on our current understanding of legislation, taxation and HMRC practice which may change in the future. For full details of each policy, please refer to the Terms and Conditions provided by the insurer.
08
03.
EMPLOYEE BENEFITS
PRIVATE MEDICAL Beaumont Consulting Notes on Private Medical
Beaumont Consulting Ltd have arranged via Mercer/We2 a group Private Medical policy with BUPA. While the circumstance of every individual and their families are different, it is estimated that employees, depending on their circumstances will enjoy a discount ranging between 15% and 40% versus the cost of the same policy purchased as an individual. The quoted pricing is an estimate based on the expected broad profile of the employee cohort. Final pricing will be confirmed once the cohort reaches an initial 21 employees. As the cohort increases, pricing will continue to improve. Participation in the Company medical plan is optional. The individual subscription will be subtracted from your remuneration. Employees may choose to extend cover to their partner and family at additional (Group Rate) cost (see table below)
Group Rate Initial Pricing Estimate Employee
Couple
Single Parent Family
Family
£86
£172
£146
£215
A live sample pricing comparison for an individual aged 43.7 years of age based in Greater London for the same policy is as follows. This individual would therefore enjoy a discount of 39.5% by availing of the Beaumont Consulting Ltd Group medical rate. Individual
Couple
Single Parent Family
Family
£142
£284
£241
£355
EMPLOYEE BENEFITS
03.
11
PRIVATE MEDICAL Mercer Summary of Private Medical
The provision of these benefits will cease upon termination of your employment with BCL due to resignation, termination or death. A private medical insurance plan insured with BUPA
Who is insured?
Employee Only
Cover Level
Full Refund
Entry Basis
Medical History Disregarded
Excess Payable
£100.00 per employee per year
Type of treatment cost
Maximum benefit available depending on your cover under the agreement
Notes as applicable depending on your cover under the agreement
Paid in full
For out-patient consultations:
Out-patient consultations and treatment Out-patient consultations with a consultant on GP or consultant referral
Consultants who are partnership consultants - paid in full Consultants who are not partnership consultants - up to the limits of the consultant fees schedule
Out-patient therapies and complimentary medicine on GP or consultant referral
Paid in full
With a scheme recognised therapist or complimentary medicine practitioner (acupuncture, chiropractic and osteopathy only) - paid in full up to and from within your available out-patient benefit limit
Facility charges for out-patient tests and investigations on consultant referral
Paid in full
In a scheme recognised facility - paid in full up to and from within your available out-patient benefit limit
MRI, CT and PET scans
Paid in full
In a scheme recognised facility for the type of scan you need as part of your eligible treatment
Out-patient surgical operations, day-patient or in-patient treatment Consultant fees for surgical and medical hospital treatment
Paid in full
With a Bupa partnership consultant in a participating facility - benefit limits apply for bupa recognised consultants who are not partnership consultants
Facility charges for: accomodation, theatre charges, nursing care, drugs and dressings (when needed as an essential part of your day-patient or in-patient treatment), intensive care, diagnostic tests and MRI, CT and PET scans, therapies, prostheses and appliances
Paid in full
In a participating facility
Parent accomodation
Paid in full
For one parent only, accompanying a child under 16 who is a member of the scheme and receiving eligible in-patient treatment in a scheme recognised facility
Treatment at home
Discretionary benefit
With a scheme recognised medical treatment provider
For intensive care in a scheme recognised critical care unit A list of the prostheses and appliances covered is a available on request
This policy is a BCL bespoke version of Bupa’s “Complete” Product. The Elect contract with Bupa also offers you a free Enhance Health Assessment every two years. You may opt-out of this benefit if you wish. If you do opt-out, BCL will not provide you with a cash alternative. Complete Policy Summary
12
04.
EMPLOYEE BENEFITS
LIFE ASSURANCE Beaumont Consulting Notes on Life Assurance Plan
Beaumont Consulting Ltd have arranged via Mercer/We2 a group Life Assurance Plan with UNUM . While the circumstance of every individual and their families are different, it is estimated that employees, depending on their circumstances will enjoy a discount ranging between 20 - 40% versus the cost of the same policy purchased as an individual. The quoted pricing is an estimate based on the expected broad profile of the employee cohort. Final pricing will be confirmed once the cohort reaches the required number. As the cohort increases thereafter, pricing will continue to improve. All employees are obligated to participate in the Company Life Cover plan. The individual subscription will be subtracted from your remuneration.
Group Rate Initial Pricing Estimate is ÂŁ29 per month
A live sample pricing comparison for an individual aged 43 years of age based in Greater London for the same policy is ÂŁ45 This individual would therefore enjoy a discount of 35% by availing of the BCL Group Life Assurance Plan
EMPLOYEE BENEFITS
04.
15
LIFE ASSURANCE Mercer Summary of Life Assurance Plan
The provision of these benefits will cease upon termination of your employment with CSL due to resignation or termination by the employer. A Group Life Assurance Plan insured with UNUM Who is insured?
Employee Only
What is insured?
A tax-free lump sum payment made to your nominated beneficiary following the death by any cause whilst an employee of BCL
Cover Level
2 X your average total earnings in the last 3 years
Entry Basis
Dependent on your benefit entitlement you may need to provide medical evidence of satisfactory health. This declaration would not be required unless your benefit exceeds ÂŁ750,000.00
Group Life Assurance cover provides financial protection in the form of a tax-free lump sum (subject to Lifetime Allowance rules) payment to your dependants in the event of an untimely death, helping relieve financial pressure at a very difficult time. Eligibility BCL has agreed to allow you to enter the scheme upon commencement of your employment provided you are aged over 16 and aged under UK State Pension Age. As long as you remain in continued employment with BCL, your cover will continue up until State Pension Age.
Policy Summary
16
05.
EMPLOYEE BENEFITS
EMPLOYEE PERFORMANCE SUPPORT
As an owner managed business Beaumont Consulting Limited prides itself on providing the best possible working environment for the best compliance talent in Europe. As experienced compliance consultants we understand the pressures that come with working as a self-employed compliance professional. We founded the business to simplify the life of consultants who understand the benefits of working smarter not harder, removing many of the structural headaches that come with working in the temporary sector, we free up the time of our members to focus on what they do best, delivering exceptional service to our clients.
Performance Delivery Support Consultants who have operated as sole traders through their own limited company will understand the time and cost associated with working this way, some may also have experienced difficulties in fulfilling contract through to illness or forced absence. They have no support network. BCL maintain a broad pool of consultants with specialists skills and experience across the Compliance Arena. Where capacity is available in the ecosystem, and a need for this capacity arises, BCL will facilitate the match so that the parties can agree the basis for the temporary support. This ‘exchange’ allows those with spare capacity to maximise their revenue and delivers the potential of support from the experience relevant BCL ecosystem.
Industry Relevant Networking Operating as a sole trader or via single director company can be an exhilarating entrepreneurial experience that affords you freedom of choice in your workplace. However it can also be an isolating experience too. BCL seeks to provide our employees with the best of both worlds. As part of our operating mantra, we will provide opportunities for you to meet and network with not only industry relevant contemporaries, but also others who have structured their working lives in a similar pioneering manner.
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06.
EMPLOYEE BENEFITS
JOINT SHARE OWNERSHIP PLAN (JSOP)
Joint Share Ownership Our strength is in our numbers; our clients benefit from this through our capacity, our members benefit from this through our unique collective approach. All of our members benefit from our combined efforts in delivering excellence as standard. Many of our members will have experienced life as a self-employed consultant, with this they will most likely have had to manage their own limited company – by contrast all of our members are salaried employees who are paid through PAYE and no longer have to concern themselves with annual returns, VAT returns, company accounts and so on. As employees our members benefit from Joint Share Ownership, as our collective efforts increase the value of our company then equally the value of our holding increases with it
JSOP Overview The Joint Share Ownership Plan was originally designed by a leading law firm widely recognised as one of the UK’s leading experts in the field of remuneration, executive incentives, employee share schemes and employee buyouts. It is widely used by the very clients we provide our services to as well as a number of other listed companies and those who are preparing to list and may have introduced Private Equity or Venture Capital.
EMPLOYEE BENEFITS
21
INDEX 01.
INTRODUCING WE2
23
02.
VDOC
25
03.
BERKSHIRE TAX PRACTICE
27
04.
PERKBOX
29
05.
CENTTRIP
30
06.
LARGE MORTGAGE LOANS
33
07.
MILLION PLUS FINANCIAL PLANNING
34
EMPLOYEE BENEFITS
01.
23
INTRODUCING WE2
We2 is an innovative “Business Gateway” platform designed for senior executives who are now providing their services to the market as consultants. We2 enables its participants to retain the cost savings and support benefits of being part of a larger organisation whilst retaining the additional flexibility and opportunity that normally comes with operating as an individual consultant. Beaumont Consulting Limited have worked closely with We2 to collate an initial service menu that is additive to Beaumont Consulting Ltd employees. At present access to the We2 platform is exclusive to Beaumont Consulting Ltd employees. The We2 platform provides easy and cost effective access to the important little things which leaves you free to maximise your focus on your business. •
Family Health
•
Business support such as Tax returns and Annual Company Returns
•
Finance facilitation and structuring advice
•
Perks and Fun
We look forward to you joining us.
02.
MEMBERSHIP BENEFITS
VDOC Video Doctor
Berkshire Tax Practice
PerkBox
Centtrip FX Services
Large Mortgage Loans
Million Plus Financial Planning
EMPLOYEE BENEFITS
03.
25
VDOC
No subscription cost for We2 members VDoc delivers fast, convenient access to GP’s for you and your family initially by Video any time of the day or night any day all year round. This precludes the often lengthy process of securing an appointment with your GP and all the unnecessary diary interruption involved. Vdoc allows you a consultation within hours from you place of work or home. Vdoc is only available to employees of large organisations or members of We2. We2 members and their families are covered. It is estimated that up to 85% of all medical enquiries can be diagnosed online. Private prescriptions from your local pharmacy can be couriered to your work or home within 2 hours. Where further examination is required, access to walk in medical is facilitated with same day diagnostic testing facilities.
About VDOC
EMPLOYEE BENEFITS
04.
27
BERKSHIRE TAX PRACTICE
No subscription cost for We2 members Berkshire Tax Practices team of experienced tax and accounting professionals provides specialist Compliance services to High Net Worth Individuals and Owner Managed Businesses. The team has considerable experience and understanding of the most complex of tax compliance issues and is therefore able to provide proactive assistance to its clients •
Completion and filing of annual SA Tax returns
•
Attending to corporation tax matters
•
Preparation and filing of corporate tax returns
•
Preparation and filing of limited company accounts
EMPLOYEE BENEFITS
05.
PERKBOX
No subscription cost for We2 members •
Free Phone Insurance
•
Save hundreds of pounds a year on groceries and other essentials
•
Splash out with exclusive discounts on clothing, entertainment and meals out
•
Discounts at hundreds of Gyms
•
Unlimited free access for We2 members
•
Discounts on hundreds services and outlets
About Perkbox
29
30
EMPLOYEE BENEFITS
06.
CENTTRIP FX SERVICES
20% Discount for We2 members •
Multiple Currencies on one Mastercard (No more Airport FX)
•
Direct access to the live currency market
•
Global cross currency payments without the bank charges
•
Deposits- safe secure deposits for 14 major currencies
•
We2 will facilitate easy onboarding process
About Centtrip
EMPLOYEE BENEFITS
07.
LARGE MORTGAGE LOANS
20% Discount for We2 members •
Specialist broker of high value mortgages
•
Access to Private deals not available on high street
•
Bespoke structured transactions including cross currency transactions
•
Residential, Buy to Let, Commercial, Overseas, Multi Currency
About Large Mortgage Loans
33
34
EMPLOYEE BENEFITS
08.
MILLION PLUS FINANCIAL PLANNING
20% Discount for We2 members •
School fees planning
•
Tax efficient investing (Onshore and Offshore)
•
Estate Planning
•
Planning for High Earners
•
Retirement Planning
•
Advice at Retirement
About Million Plus Financial Planning