Vinci Plc has launched a voluntary group income protection scheme through salary sacrifice for its 3,000 staff.
The arrangement works on the basis of the employer taking out the group policy on behalf of employees, who pay for the service from their gross salaries. Staff are then given income protection benefits in the event that they are unable to work due to long-term illness or injury. The company will save on national insurance (NI) contributions while employees save tax and NI.
The scheme also provides access to a rehabilitation team.
Colin Jellicoe, human resources director of Vinci Plc, said the product was an important addition to its benefits due to the high incidence of work-related absence in the construction industry.
“We already have a private healthcare plan that covers every employee and we have quite an extensive occupational health service, so [group income protection] complements these.”
Representatives from supplier Personal Group visited Vinci sites to talk to staff about the plan. Leaflets and posters were also distributed.