The schedule below gives an indication of how a highly valued benefit
scheme may be installed at relatively low cost
| Benefit |
Provider |
Monthly Cost to
Employer |
Monthly Cost to Employees |
Details |
| Pension |
 |
£487.50 |
£380.25 |
Group Personal Pension Plan. Employer makes a
contribution based on 3% of salary on the understanding that
employees also pay 3%.
Employees receive basic rate tax relief at source on all personal
contributions made. |
| Life Assurance |
 |
£121.50 |
£0.00 |
4 times salary payable on death. Cost fully
covered by employer.
Benefit is not treated as a benefit in kind to the employee
for tax purposes. |
| Private Medical Insurance |
 |
£159.00 |
Optional |
BUPA Premier network scheme. Employer pays the
cost of cover for all employees and staff may upgrade policy
to cover spouses and family if they wish at their own cost.
£100.00
excess – per annum not per claim.
Premium paid by employer is treated as a benefit in kind for
tax purposes. |
| Total |
|
£768.00 |
£380.00 |
|
