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A guide to our flexible benefits scheme https://login.benpal.com
Contents
Key
Tax Saving
NI Saving
Available to new joiners
Available during the annual window
Available at any time
3. Welcome to freedom4. How freedom works5. Benefits overview6. Savings explained7. freedom benefits explained8. Managing freedom onlineSecurity and Protection10. Critical Illness Insurance
Disability Insurance11. Life Assurance
Partner Life Assurance12. PensionHealth and Wellbeing14. Dental Insurance
GymFlex15. Health Assessments
Health Cash Plan16. Private Medical InsuranceLifestyle18. Childcare Vouchers
Bicycles19. Give As You Earn (GAYE)
Holidays20. Home Computing Scheme
Tastecard21. Wine Club
Freedom2ShopAdditional benefits22. Eyesight Tests
Season Ticket Loan21. Employee Assistance Programme
Foreign Currency Delivery Service24. Frequently asked questions
Welcome to freedom
freedom gives you the opportunity to:• Select benefits to suit your lifestyle
• Choose the cover levels that are right for you and your family
• Benefit from possible tax and National Insurance savings
• Enjoy special rates and savings that you may not find yourself
• Make changes to your benefits package online
• Find all the important information in one place
You can access your secure online account at BenPal (https://login.benpal.com). This easy to use online system makes planning and controlling your pension and benefits straightforward and gives you access 24 hours a day, seven days a week.
This booklet will help you understand how freedom works, the benefits that are available and how to access and use the online flexible benefits system.
If you have any questions or need help using the system, please contact the BenPal Support Team on 0845 309 6197 or email [email protected], available Monday to Friday 8am to 6pm.
We hope that you make the most of the great benefits available with freedom.
Kind Regards Martyn Fisher Reward Director
At Worldpay we want to make sure that everyone has the opportunity to get the most from the benefits we offer. Freedom is our flexible benefits scheme designed to meet your individual needs and help you save money, look after your health and protect yourself and your dependants.
Our new brand sets out our values, beliefs and behaviours. Our purpose is clear, we want to be “The world’s most progressive and reliable payments partner, sharing insights and helping customers prosper.” We won’t achieve these ambitions without our colleagues.
To help us work collectively to achieve our goals, we have defined a powerful set of qualities which we use to shape the way we interact with our customers and colleagues.
the people are the brand…and it’s up to us to bring it to life!Philip Jansen, CEO
Spirited
Smart
Helpful
‘‘‘‘
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Give As You Earn Bicycles Holidays Gym flex
Critical Illness Pension Private Medical Health Assessments
Childcare Vouchers Eyesight Test Employee Assistance Programme
freedom is a selection of benefits for all Worldpay colleagues, based in the UK. Some benefits will only be available for you to select in the annual election window and some will be available all year round. However if you join the company or have a lifestyle change throughout the year, you may also have the chance to select some benefits.
Annual election windowsThe freedom election window is 8 – 26 September and most benefits will be effective from 1 October. We will remind you before the election window opens and provide details of how to access your online account. Some benefits will only be available to select during the annual election window. These benefits will have the following symbol:
Benefits available all yearSome benefits are not confined to the annual election window which means that you can select them online at any time throughout the year. Some benefits don’t even need to be selected online as they are automatically available to you as a Worldpay colleague (additional benefits). These benefits will have the following symbol:
New JoinersAs a new Worldpay colleague, you will be covered for Core Benefits from your first day of employment. You will also have the opportunity to select some benefits outside of the annual election window. These benefits will have the following symbol:
Lifestyle eventsIf your lifestyle changes you may be able to select benefits outside of an annual election window. These can include getting married, having a baby, adoption, death of a dependant, divorce, commencement of maternity or significant changes in work patterns. The full list of lifestyle events can be viewed on your online account.
Your Value AccountRather than providing you with membership of a pension scheme (depending on your age/length of service etc) or any other benefits, we give you the freedom to decide how you would like to be rewarded. Your Value Account is a pot of money that Worldpay puts aside for you and this is made up of a percentage of your basic pay (typically 25%). This Value Account is used to provide you with Core Benefits as well as allowing you to spend it on your pension and chosen benefits. If your total spend is more than your Value Account we will simply take the rest out of your basic pay. You could also decide to just take the cash!
How freedom works
Your Value Account is made up of Pension and Benefit funding
Value AccountBasic Salary
Total Fixed Reward
Benefits overview
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All benefits are available during the annual election window. See below for those
benefits that are available at other times of the year.
Benefit Provider Tax is saved NI is savedAvailable to
be changed all year round
Available only after a lifestyle
event*
Available to new hires after annual election
Security and Protection
Critical Illness Insurance Friends Life O ü O ü üPartner Critical Illness Insurance Friends Life O ü O ü üDisability Insurance Friends Life ü ü O ü üLife Assurance Friends Life ü ü O ü üPartner Life Assurance Friends Life O ü O ü üPension Zurich ü ü ü O üHealth and Wellbeing
Dental Insurance NDP O ü O O üGym Flex Incorpore O ü O O O
Health Assessments Nuffield ü ü O O O
Partner Health Assessment Nuffield O ü O O O
Health Cash Plan HealthShield O ü O O üPrivate Medical Insurance Aviva O ü O ü üLifestyle
Childcare Vouchers EdenRed ü ü O ü üBicycles Halfords ü ü O O O
Give As You Earn Charities Trust ü O ü O üHolidays Worldpay ü ü O O O
Home Computing Scheme Let’s Connect ü ü O O O
Tastecard Tastecard O O O O O
Wineclub Laithwaites O ü O O ü
Additional Benefits (No elections required)
Eyesight Tests Duncan & Todd O O ü O üSeason Ticket Loan Worldpay O O ü O üEmployee Assistance Programme AXA O O ü O üForeign Currency Delivery Service City Forex O O ü O üFreedom2Shop Freedom2Shop O O ü O ü
Worldpay provides a number of benefits which you get as an employee. Here is an overview of all the benefits available through freedom. All benefits are available for you to select during the election window.
*Lifestyle event examples include marriage, birth of child, divorce, change of schooling (for Childcare Vouchers) etc.
Salary Sacrifice is when you agree to vary the terms and conditions of your employment and exchange a portion of your contractual pay in return for non-cash products/services through freedom.
You will receive your benefit and a reduced amount of pay into your bank account every month. Your gross salary is therefore reduced and depending on the benefits you select, both you and Worldpay may save money on NI, as your gross salary has been reduced.
Worldpay will continue to use your Basic Salary value to calculate items such as pension funding allowance, pay reviews and other salary related benefits. There is no limit on how much you can spend on flexible benefits, so long as your adjusted salary is no less than the requirements of the National Minimum Wage. All selections are subject to approval by Worldpay.
Saving Tax and/or National Insurance (NI)We have designed freedom to help you get improved value out of your pay and benefits package. By selecting some of the flexible benefits, you can make significant tax and NI savings. The savings you make depend on the tax and NI status of the benefit (as determined by HMRC) and whether you are a basic, higher, or additional rate taxpayer. Where benefits are subject to Income Tax and/or NI, the relevant deductions are made via payroll.
Savings explained
Tax Saving
NI Saving
To help you understand which benefits you will save tax and/or NI on we have used the following symbols to show when this applies.
freedom is made up of Core Benefits, Flexible Benefits and Additional Benefits.
Core BenefitsWorldpay provides a number of core benefits which all colleagues receive. The cost of these benefits are deducted from your Value Account.
Your Core Benefits include:
• Annual Leave: a minimum of 25 days plus public holidays
• Private Medical Insurance: colleagues at grades A–D get optimum single cover. This also includes some colleagues at Grade E who have a protected level of benefits and pension funding
• Disability cover to 50% or 75% of pay
• Life Assurance: 3 x Basic Salary + ValueAccount
Flexible benefitsfreedom opens once a year for you to choose from a wide range of flexible benefits, from family and leisure options to health and wealth benefits. By choosing your own flexible benefits you can ensure that what you receive is right for you and your lifestyle. This usually occurs in September and you will be given plenty of notice before the window opens.
We have grouped your flexible benefits into Security and Protection, Health and Wellbeing and Lifestyle. Some benefits that you selected in 2013 will need to be selected again in the 2014 annual election window if you wish to continue with them. Some flexible benefits allow you to save Tax and National Insurance Contributions (NI) because you pay for them before your tax and/or NI is deducted, this is called ‘Salary Sacrifice’.
Additional benefitsWorldpay also offers a range of additional benefits that you can take advantage of at any time. More information will be available online but you don’t need to select them during an election window. These include:- Employee Assistance Programme; Season Ticket Loans; free Eye Tests and a foreign currency delivery service called City Forex.
freedom benefits explained
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Using the online system, BenPal, you will have the flexibility and control over choosing your benefits.
If you have not already registered then you will receive an activation email from the BenPal Support Team. Follow instructions to register and set up your personal username and password, which you can use to log on to https://login.benpal.com at any time.
Managing freedom online
If you need help logging on or making your selections, contact the BenPal Support Team on: 0845 309 6197 or email us at: [email protected]
Click ‘Manage benefits’ and take a look at the benefits available to you.
Click on the benefit tile to select the level of cover or amount you want and view more information about the benefit (including any provider documents).
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Welcome to the online system BenPal, visit https://login.benpal.com to log on.
Read all the Terms and Conditions and confirm your selections.
View all your selected benefits and see how much this will cost you each month/year. You can always remove benefits if you like.
freedom isn’t just for annual election windowsYou will be able to view your benefits, access important benefit documents and even select some benefits at any time during the year. You could also try out the online pension modeller to work out what you might end up with at retirement if you change your pension contributions or your retirement age.
What happens next?Once you have successfully submitted your selections, you will receive a confirmation email from the BenPal Support Team. If you want to change your selections or add new benefits then you can do this at any time during the election window simply by logging on and resubmitting. Make sure you confirm any changes before the election window closes.
Once the election window closes, the Payroll and Benefits team and the benefit provider will be notified and you will see the monthly deductions shown on your payslip. You will only be able to make changes to your benefits package once a year at annual enrolment or following a qualifying lifestyle event.
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To make your selections, click on ‘Manage your benefits’ within the Benefits box. After completing your selections you can add/update your dependants and beneficiaries under the Dependants box at any time.
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Security and Protection
Critical Illness InsuranceCritical Illness Insurance provides you with a tax free lump sum should you suffer from one of the qualifying critical illnesses and survive for at least 14 days from a diagnosis.
Cover is available for you and your partner and children are covered, free of charge for up to 25% of your cover level or £20,000 (whichever is lower).
Summary• Pay for this benefit monthly and save NI
• Cover yourself for up to a maximum of £500,000 in incremental stages of £25,000
• Cover your partner for up to £250,000 or your level of cover (whichever is lower)
• Children are covered, free of charge, up to 25% of your cover level or £20,000 (whichever is lower)
• Pre-existing conditions are not covered
• This benefit is provided by Friends Life
Disability InsuranceDisability Insurance is provided for all colleagues so that in the event of some medical reason you are unable to continue working, you will receive some income.
Summary• Pay for this benefit monthly and save NI
• The benefit is paid if you are absent from work for medical reasons for a period of 6 months
• The benefit is paid for up to five years at a level of either 50% or 75% of pay, or until you can return to work or you retire, (whichever is earlier)
• The benefit will increase each year in line with the Retail Price Index, up to a maximum of 2.5%
• You can choose to extend your cover to age 65 and/or increase the level to 75%
Life AssuranceLife Assurance benefit will provide your beneficiaries with a cash lump sum in the unfortunate case of your death whilst working for Worldpay.
Please keep your Nomination of Beneficiaries up to date online within freedom to help the trustees determine who this benefit should be paid to.
Summary• Pay for this benefit monthly and save tax and NI
(on additional cover)
• Core entitlement for all colleagues is three times your Salary and Value Account
• You can choose to increase your cover up to a maximum of nine times your Salary and Value Account (by one step at a time, subject to a maximum of two steps in any freedom Scheme Year)
• You cannot decrease you cover to less than three times your Salary and Value Account
• New colleagues – you can choose any level of cover during your first annual enrolment window but thereafter, by only one step at a time
• This benefit is provided by Friends Life
Partner Life AssuranceBy insuring your partner through freedom, you will benefit from the discounted rates that Worldpay has negotiated.
Summary• Pay for this benefit monthly and save NI
• You can choose cover up to £250,000 in units of £25,000
• You benefit from discounted rates
• Cover will remain in place for as long as you are employed at Worldpay and elect to keep the cover
• Your partner will need to complete a simple medical questionnaire
• Further medical evidence may be requested
• This benefit is provided by Friends Life
Key
Tax Saving
NI Saving
Available to new joiners
Available during the annual window
Available at any time
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PensionA pension helps you to build up a pot of money that you can use when you retire. You’ve probably heard that we’re all likely to live longer, so it’s important to make sure that you have enough money to live on as the State Pension may not be enough. By being part of the Worldpay Group Personal
Pension scheme (GPP), you will be able to save some money every pay period by making contributions. You will also receive tax relief on your contributions from the Government, which means more money in your savings pot.
Automatic enrolment into the pension
By law we have to automatically enrol eligible colleagues into the Worldpay GPP. This means that if you have not already joined, are aged over 21 (and under State Pension Age) and earn over £10,000* then you will be eligible. This will apply to all our existing staff and any new colleagues, but you can always opt out of the pension if you wish. We won’t do anything without telling you first, so look out for more information about automatic enrolment and whether you will be enrolled.
On the first of the month after joining, new joiners are automatically enrolled with an employee contribution of 3% of basic pay.
Summary• Worldpay gives all colleagues a pension and benefit funding allowance
which is known as your Value Account
• You decide whether to join the pension scheme and how much of your Value Account you want to spend
• Contributions are deducted on a salary sacrifice basis
• This gross amount is paid into your pension as an employer contribution
• The gross contribution sacrificed is deducted before tax and NI are calculated
• You can choose which funds your contributions are invested in
• If you choose to opt out of the pension scheme you will receive the cash alternative instead (of 3% of your salary)
• This pension scheme is provided by Zurich
*This is based on the 2014/2015 gross qualifying earnings thresholds and may change in the future.
Security and Protection
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Dental InsuranceDental Insurance helps by reimbursing you for NHS or private dental treatment. There are four levels of cover and you can choose to include your partner and/or your children.
Summary• Pay for this benefit monthly and save NI
• There are four levels of cover to choose from
• The level of reimbursement is based on the option you select
• Existing conditions are covered (except for oral cancer and any treatment already commenced or prescribed)
• You are covered for emergency treatment abroad (ensure you receive a receipt in English)
• To claim – pay your dentist, obtain a receipt, submit a claim and receive the payment within 10 working days
• This benefit is provided by NDP
GymFlexfreedom enables you to access discounted corporate rates from a wide range of health clubs, covering the majority of the major UK health club operators including public and private sector clubs.
Summary• Select Gymflex before the 20th of the
month for it to be effective from the 1st of the following month
• This benefit will need to be re-selected at annual renewal for it to continue
• Pay for this benefit monthly and save NI
• Choose from over 1,500 health clubs
• Join a club of your choice in a location of your choice
• Cost effective way to improve your health and wellbeing
• Complete the online application form, input the monthly cost and you will be contacted by the gym
• This benefit is provided by Incorpore
Health and Wellbeing
Health Cash PlanThe Health Cash Plan reimburses you for a range of medical expenses including hospital stays, optical and dental fees, chiropody and other alternative treatments.
Summary• Pay for this benefit monthly and save NI
• You have a choice of five different levels of cover
• You can choose to include your partner with the same level of cover
• Children will be covered for free up to the age of 21 (or 24 if in full time education)
• This benefit is provided by Healthshield
Health AssessmentsHealth Assessments may help you and your partner to maintain your health by identifying risk factors and encourage you to make any necessary changes to your lifestyle.
You will benefit from a comprehensive range of tests and a highly personal approach with time to discuss your individual concerns with experienced practitioners.
Summary• Pay for this benefit monthly and save tax and NI
• There are three levels of assessments to choose from
• WorldPay has negotiated lower rates
• Cover also available for your partner
• This benefit is provided by Nuffield
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Health and Wellbeing
Private Medical InsurancePrivate Medical Insurance provides cover for eligible private medical expenses including in-patient, out-patient and day case treatment.
Treatment should always be on the referral of your GP and you must always contact the provider before receiving treatment to make sure it is covered under your plan.
Summary• Pay for this benefit monthly and save NI
• Colleagues at grades A-D inclusive are provided with Optimum cover as a core benefit
• Some colleagues at grade E who have a protected level of benefits also have Optimum option as a core benefit
• You can elect to include your spouse/partner or unmarried dependant children up to the age of 21
• Pre-existing conditions are covered
• No medical evidence is required on joining
• This benefit is provided by Aviva
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BicyclesGet your hands on a brand new bicycle, safety equipment and accessories and save tax and NI on the cost. This benefit is provided in conjunction with Halfords, so you can choose from their wide range
available and we have also negotiated a further 7% discount for you.
Summary• Spread the cost over 12 months and save tax and NI
• Choose the amount you need, between £100 and £1,000
• The bike must be mainly used for commuting to or from work
• This is a hire agreement through Worldpay and is subject to terms, conditions and exclusions
• During the 12 month hire agreement you do not own the bike
• After 12 months it may be possible to purchase the bike at a fair market value
• You are advised to obtain specific insurance for your equipment and inform your insurer that Worldpay has an interest in the equipment
• This benefit is provided by Halfords
Childcare VouchersChildcare Vouchers allow you to take advantage of a tax-efficient way to pay for childcare if you have children aged up to 15 that attend a registered childminder, nursery, play scheme, after school club or summer club.
Depending on your level of income, you can select up to £243 per month free of tax which will be credited to your own personal childcare account. You can then decide when you want to spend these credits, so you could save them up to use over the summer. Worldpay will also give its NI saving back to you, which will give you an additional 10% saving on all vouchers purchased.
Summary• Save tax and NI on up to £243 per month
• Choose your voucher amount to pay per month (unlimited amount)
• Can be used for children up to 1 September after their 15th birthday (16th if they have a disability)
• Vouchers are transferred to your online account whereby direct payments are controlled by you and made to approved childcare providers
• This benefit is provided by Edenred
Lifestyle
Holidaysfreedom gives you the option to buy or sell up to five days holiday to suit your needs, should it be a little extra time off for the trip of a lifetime, or just to free up some extra cash.
The cost of purchasing a days holiday is based on your Basic Salary x 1/260. This is pro-rated for part time colleagues. You should seek your manager’s approval prior to buying or selling annual leave and normal procedures should be followed to book holidays.
Summary• Spread the cost over 12 months and save tax and NI
• Buy or sell up to five days holiday
• 35 days maximum holiday to be taken in each holiday year (or part-time equivalent)
• 20 days minimum holiday to be taken in each holiday year (or part-time equivalent)
• Adjustment in days will reflect in your entitlement for the next holiday year beginning 1 January
• The change in your Value Account takes effect within the benefit year on 1 October
• Normal rules apply to holiday carried forward into the next year
• Additional holiday purchases not taken, will not be refunded
Give As You Earn (GAYE)This benefit gives you a tax-efficient way to make your charitable donations. You can contribute to as many registered charities as you like, large or small, national or local. Worldpay will also pay the 25p administration charge per donation.
Summary• Pay for this benefit monthly and save NI
• You will be set up with an online account which allows the flexibility to pay charities regularly and events on an ad-hoc basis
• Donate to as many charities as you like
• This benefit is provided by Charities Trust
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Lifestyle
TastecardTastecard is a diners club with over 6,400 restaurants all offering 50% or 2-4-1 across all courses each time you visit. Restaurants range from fine dining establishments such as
‘MARCO’ by Marco Pierre White, Conran Restaurants, St Germain in the City and Frederick’s in Islington right through to chains like Pizza Express, Strada, Gourmet Burger Kitchen, Prezzo, Chez Gerard and ASK.
Summary• Membership costs £29.95 (RRP £79.95)
• Choose to buy a card for yourself and up to nine others for friends and family
• You may have to book in advance in some restaurants and may not be able to use your card on certain dates, for example Christmas Day
• This benefit is provided by Tastecard
Home Computing SchemeThis gives you access to a great range of laptops, tablets, desktops and accessories from Apple or Hewlett Packard for use at home.
Summary• Spread the cost over three years (36 months) and
save tax and NI
• This is a hire agreement through Worldpay and is subject to terms, conditions and exclusions
• During the 36 month hire agreement you do not own the equipment
• Select up to two main computer packages and accessories from the options available
• Maximum monthly spend on the package is £100 (total maximum package cost over 36 months equals £3,600)
• Delivery of computer packages will take place following the close of the annual election window
• This benefit is provided by Let’s Connect
Freedom2ShopWith Freedom2Shop, you and your family are given exclusive access to VIP shopping events and hundreds of unique offers from all your favourite retailers in: fashion,
electronics, cars, books and magazines, jewellery, entertainment, flowers and gifts, sports and fitness, travel and many more.
Summary• Exclusive access to VIP shopping events
• Interactive experience
• Allows you to recommend the retailers of your choice
• Sign up for personalised email reminders
• Invite two special guests to share your exclusive benefits
• This benefit is provided by Freedom2Shop
Wine ClubWine Club is a great way to explore the world of wine and develop your wine tasting skills in the comfort of your own home.
Every month Laithwaites will deliver to your door, wine from around the world that has been selected by their experienced team of buyers. Comprehensive tasting notes with details of serving temperatures, drink dates, food matches and grape varieties are included in each delivery.
Summary• Pay for this benefit monthly and save NI
• Choose between luxury selection and seasonal favourites
• Receive red, white or mixed cases of wine
• Choose up to three cases of six bottles per month
• Delivered to your home address
• Receive a mystery gift at Christmas
• This benefit is provided by Laithwaites
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Eyesight TestsWith so many of our colleagues working with VDU and PC screens as well as laptops, we are able to provide some help towards the cost of your eye test and your glasses.
Summary• Choose from a national list of opticians provided by
Duncan & Todd’s Intelligent Corporate Eyecare (ICE)
• Obtain your eyecare voucher through freedom
• Take the voucher to your optician
• Worldpay will also provide £25 towards the cost of glasses if needed solely for VDU use
• Only one voucher can be used each year
Additional Benefits
Season Ticket LoanWorldpay offers colleagues an interest free season ticket loan to cover the cost of season tickets.
Summary• Can be used for public transport and any car
parking to and from your place of work
• If the loan exceeds £10,000 it will be classed as a benefit in kind for tax purposes
• The ticket must cover at least three months but not exceed 12 months
• The loan is repaid via equal monthly instalments over the duration of the Season Ticket
Foreign Currency Delivery ServiceCity Forex is the alternative to traditional foreign exchange providers such as banks, travel agencies, the Post Office and airport suppliers who offer poor rates and high charges.
Summary• Free same-day messenger delivery service in the
City and Canary Wharf
• Free, fully insured next-day postal delivery anywhere in the UK for orders of £750 and over - (£6 fee under £750)
• No commission on foreign currency banknotes and foreign currency traveller cheques
• Worldwide money transfers at a flat fee of £10.00 - free for transactions over £30k
• Tailored services for overseas property buyers
• Payment by Cash, Debit/Credit Card (some debit cards do charge)
City Forex Tel: 020 7621 0090 Email: [email protected] Website: www.cityforex.co.uk
Employee Assistance ProgrammeThe Worldpay Employee Assistance Programme is there to support you with any personal and work related issues you face in order to promote better personal and organisational wellbeing and performance at work.
Summary• Support includes confidential counselling,
debt management and personal, emotional and family matters
• The service is provided by AXA
• Available 365 days a year, 24 hours a day
• Call 0800 0727 072
• www.icaslifestyle.com username: worldpay Password: lifestyle
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When is the freedom annual election window? This is the period during which you select the benefits you would like to receive during the next scheme year. Annual enrolment will occur during September and the freedom scheme year will run from 1 October to 30 September each year.
What if I don’t make my selections in time?If you fail to log on and make any selections during your election window then you will still receive your Core Benefits and you may be able to select some benefits throughout the year.
How are the benefit costs worked out?The costs are set by the benefit providers and depending on the benefit, may take into account a number of factors including your salary, age and medical circumstances amongst others. However, we also use the buying power of Worldpay to negotiate group rates where possible.
Does freedom affect my employment contract?Yes. freedom allows you to review your benefits each year. Your elections and resulting salary sacrifice form an amendment to your contract.
Are there any drawbacks of entering a Salary Sacrifice arrangement?Whilst company benefits are calculated on your Basic Salary and/or Value Account, state benefits (e.g. child tax credits, working tax credits, statutory maternity pay etc) will be calculated on your Post Flex Salary, which is your Value Account after deductions for the benefits elected. If you have any queries relating to your individual circumstances, we would recommend that you seek independent financial advice or contact your local tax office.
What is ‘Basic Salary’?This is your current salary before any adjustments are made in respect of your benefit elections through freedom. Your Basic Salary will continue to be used for determining pay reviews and any benefits that are calculated based on your salary (such as pension contributions).
What is ‘Post Flex Salary’?This is your Value Account after deductions for benefits are taken and is your revised contractual salary that will be subject to deductions of tax and NI (following the approval by Worldpay of any benefit selections that you have made).
Frequently asked questions
What do you mean by ‘Partner’?Your partner is usually defined as:
• your legal spouse or civil partner; or
• any person that you nominate as your Partner (regardless of their gender or marital status), as long as that person is in an ongoing relationship with you, lives with you and shares a joint financial commitment with you. This does not include members of your immediate family, for example parents, grandparents or other relations. However, you should refer to the policy documents for each benefit as each benefit provider’s definition may vary.
When would Worldpay get involved in my selections?All references to Company or Worldpay in this booklet mean Worldpay (UK) Limited. Worldpay reserves the right to decline to provide a colleague selection under freedom.
In future we may introduce changes to freedom, which may include:
• Changes to the freedom Scheme Year
• Change some of the benefits, options and prices available each year
• Amend or withdraw a benefit. This could happen when a provider is unable to provide the product or the cost of provision is no longer viable
• Change the choice of insurer/provider for certain benefits
• Exclude an individual (including the colleague, spouse/partner or dependant) from a benefit because of reasonable employment, health and safety or legal grounds
• Exclude an individual from opting into a benefit if the provider refuses to supply the benefit on offer
Where can I go if I need more help?BenPal is designed to provide all the necessary information about your benefits, so that you can access it whenever you need to. If you need help using the new system, please contact the BenPal Support Team on 0845 309 6197 or email [email protected], available Monday to Friday 8am to 6pm.
For any further queries contact the Reward and Benefits Team on: [email protected]
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