Aviva is making it easier for people to understand the value of benefits provided by their employer.
Total Reward Statements will be offered alongside group personal pensions and give employees an online personal statement of their benefits package including salary, bonus, pension, medical insurance, health screening, life and critical illness insurance, car allowance and holiday.
The launch underlines Aviva’s strength in the workplace savings market. The technology is provided by Staffcare, an award-winning employee benefits software company that licenses its technology to many of the UK’s leading employee benefit consultants and corporate advisers.
Paul Goodwin, head of pensions marketing at Aviva, said: “Aviva research shows that companies’ employees want to view and manage their benefits in one place. Aviva’s Total Reward Statement is ideal for employees because it enables them to understand and manage their workplace benefits. For example, people are more likely to save into a work pension if they can see how much it is worth and how
much it grows each year.
“It’s also good news for employers because it helps with staff retention and can make it simpler to communicate the benefits offered by the whole staff benefits package. We expect the workplace savings market to grow fast over the next few years, and it’s one in which Aviva will play a leading role.”
Source : Aviva Press Release
