Law firm Freshfields Bruckhaus Deringer has launched a flexible benefits scheme to improve its benefits provision for employees.
The flex scheme, which went live in July, has received a 60% take-up with 1,100 out of the firm’s 1,800 UK-based staff making active benefits choices.
Through the scheme, Benefits Plus, provided by Vebnet, employees can access a range of benefits relating to financial security, health and lifestyle.
Financial security benefits include life assurance, group income protection and a group personal pension with age-related employer contributions.
Life assurance cover of four-times salary is provided, but employees can trade down to two-times salary. The same applies to income protection, which is funded to cover 75% of salary but can be traded down to cover 50% of salary. Life assurance and critical illness can also be extended to cover partners.
Lifestyle benefits offered include holiday trading, a cycle-to-work scheme, travel insurance, childcare vouchers, payroll giving and carbon offsetting.