August 2010

Providing your employees with financial protection, by B&CE Benefit Schemes

Providing your employees with financial protection

B&CE Benefit Schemes (B&CE) is a not for profit organisation with over a 65 year history of helping those in the building and civil engineering industry with key financial services. The company is the UK’s largest provider of financial benefits to construction industry employers and individuals. Since its launch in 1942, all its efforts have been towards one goal: improving the personal and financial wellbeing of everyone in construction. All financial gains are poured straight back into the construction industry making B&CE truly unique and giving employers the ability to provide leading benefits at a low cost for their workforce.

As industry specialists, B&CE has created a range of tailored financial products, including the UK’s largest stakeholder pension with more than 500,000 members, annuities, accident cover, life cover, holiday pay, personal injury and a healthcare range of employee benefit products tailored to those in the construction industry.

With a Board comprising representatives from employer federations and trade unions, together with an independent chairman and an experienced senior management team, B&CE is perfectly placed to consider and meet the needs of everyone in the industry.

B&CE’s employee benefits package is widely recognised as best practice within the industry and the first choice for many employers and is a comprehensive and flexible way to provide employees with valuable financial protection. Providing such a package can help attract and retain quality employees, enhance company reputation, improve productivity and protect a valuable asset.

Stakeholder pension

B&CE’s stakeholder pension, EasyBuild, is a cost effective way for employers to provide employees with access to a company pension scheme. EasyBuild helps employers attract and retain quality staff, meet the requirements of the industry’s working rule agreement, together with reducing their liability to corporation tax. Both employers and their employees can contribute to EasyBuild. Employees’ contributions are easily managed by payroll deductions.

Accident cover

Accident cover provides a tax-free lump sum to employees if they are injured as a result of a qualifying accident at work or whilst travelling to or from work. Accident cover helps employers protect their workforce and relieve their employees’ financial worries while they recover. Employees benefit from receiving a benefit at no cost to themselves.

Life Cover

Life cover provides a discretionary tax-free lump sum to an employee’s financial dependant(s) if they die for any reason whilst in active service. There is also discretionary cover for cases where death was preceded by certain periods of unemployment or continuous ill heath up to age 65.

The maximum sums payable double if an employee dies as a result of an accident at work or travelling to or from work. Providing life cover can help employers attract quality staff as a part of a comprehensive benefits package and reassure staff that their dependants will be more financially secure.

Employee healthcare

Employee Healthcare from B&CE provides cash benefits towards routine healthcare plus access to diagnostic scanning and an employee assistance programme. Employers who provide employees with good healthcare benefits can reduce the cost of absence. A comprehensive healthcare plan can help aid recruitment and retention and act as an integral part of an employer’s Health and Safety policy. Costs may be offset against corporation tax (subject to current tax legislation). There’s no medical required to join and there’s cover for employees’ pre-existing medical conditions. Employees can choose to upgrade the level of cover they provide or cover their partner at their own expense.

Holiday pay

B&CE operates a centralised holiday pay scheme on behalf of the construction industry. This scheme is approved by HM Revenue & Customs and allows employers in the construction industry to save the National Insurance on holiday pay provided to their employees. To qualify for exemption, employees must be ‘personally engaged’ in eligible construction operations. This concession is being withdrawn in October 2012, so it’s important that employer maximise on their savings before this date.

To find out more visit or call us on 08457 414142 or 01293 586666.

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