News update – Renesas’s new cover

Employees at Renesas, a joint partnership between Hitachi and Mitsubishi, will soon be able to increase death-in-service benefit through the company’s flexible benefits scheme to five or six times their salary.

The company, which presently funds cover of three times salary and previously allowed employees to flex up to four times, is responding to new legislation on pensions simplification, which comes into effect on April 1.