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Are your family's finances protected by your employer provided benefits package? Add your thoughts and you could win a £100 giftcard - NOW CLOSED

(92 Posts)
AnnMumsnet (MNHQ) Mon 01-Jul-13 10:57:54

According to a new report commissioned by leading financial protection provider Unum, today's employees are more likely to fall into financial difficulty than they were 30 years ago. The report suggests that this is partly down to the fact that employee benefits - designed to provide financial protection - have failed to keep pace with the changing UK workforce which now has more women and older workers plus more workers who are disable or suffering a long-term illness.

In fact, the report identifies that people with caring responsibilities - such as mothers with children - are one of three groups that are most 'at risk' of being left financially exposed owing to an employer provided benefits package that isn't fit for purpose.

So, Unum are asking you:

What employer provided benefits you are entitled to, and how could your employer provided benefits package better support you as a modern employee with caring responsibilities?

For example:
~ Does your employer provided benefits package entitle you to flexible working to help make it easier for you to carry out caring responsibilities?
~ Does it entitle you to income protection so that if you become ill you have the best chance of getting better quickly - without having to worry about losing your monthly wage - so as not to impact on your caring responsibilities?
~ Are you entitled to fewer employer provided benefits because you work part time, and does this impact your ability to carry out your caring responsibilities?

Add your thoughts to this thread and you'll be entered into a prize draw where one MNer picked at random will win £100 giftcard from One4All (which can be spent at 17,000 outlets nationwide)

For more information, visit the Unum pages on MN.

Thanks, MNHQ

midoriway Mon 01-Jul-13 20:22:03

I would like to know why, 4 months after submitting medical evidence to Unum to make a claim, my DH has heard SFA. PM me for further details Unum marketing folk. Don't worry about putting me in for the prize, we would just like to see our claim paid out.

OrangeKipper Mon 01-Jul-13 20:54:58

For more information still, visit the other Unum pages on MN.

The ones where content isn't controlled by Unum.wink

Even after years of working for large finance and insurance companies we were never offered any employee benefits like this.

The only 'benefit' we got was permanent contracts.

VivaLeBeaver Mon 01-Jul-13 21:19:42

Both me and dh would get six months full pay followed by six months half pay if we were ever off sick.

I wouldn't have a hope in hell of flexible working if I needed it for caring purposes......dh would. If dd is ever off school sick its always been dh who doesn't go into work, his boss will let him work from home at short notice in such circumstances.

We also have some sort of insurance policy that pays out enough to cover the mortgage and then some if either of us were killed, seriously injured or got terminally ill.

TeamEdward Mon 01-Jul-13 21:37:35

I'm currently self-employed so my employe offers diddly-squat in way of benefits! I also work 2 mornings a week as a playworker. No sick pay, maternity, or any other benefits (except the odd pint of leftover milk)

DH however has 3 times death-in-service, 6 months full sick pay and a few other things.

Trills Mon 01-Jul-13 21:53:02

~ Does your employer provided benefits package entitle you to flexible working to help make it easier for you to carry out caring responsibilities?

We have flexible working hours but it's not related to caring responsibilities, everyone can work different hours as long as they get their work done.

~ Does it entitle you to income protection so that if you become ill you have the best chance of getting better quickly - without having to worry about losing your monthly wage - so as not to impact on your caring responsibilities?

This isn't something that I'm aware of. I don't really understand what income protection has to do with "getting better quickly" or "caring responsibilities".

~ Are you entitled to fewer employer provided benefits because you work part time, and does this impact your ability to carry out your caring responsibilities?

I'm not part time so I don't know, but I don't think so.

Trills Mon 01-Jul-13 21:53:20

We do have quite decent sick pay.

I work full time, so the question about part time working doesn't apply. Re the other questions, my employer offers an excellent package. Flexible working, including working from home. They also pay sick pay and if I was unable to work long term, there is an insurance policy to cover my income. I think I'm pretty lucky.

mercibucket Mon 01-Jul-13 22:45:29

i get paid sick leave and a small death in service benefit. i would love private heathcare as a benefit

BlueSkySoftSand Tue 02-Jul-13 02:30:11

I work for a small company with limited benefits. I can take impromptu holidays for family emergencies, but that's about it. It is worrying financially, but not a lot I can do about it currently as it is me who had had to sacrifice career choices so I work locally and the hours to suit collecing DC from nursery and so on.

DoodleAlley Tue 02-Jul-13 05:47:44

I work in local government.

I requested a change in my hours to work part time and can request to work from home within the limits of client need.

In terms of illness there is basic sick pay which becomes slightly more generous with increased duration of service but not earth shatteringly generous in comparison. With the equivalent private sector.

There is no insurance in cases of long term sickness. I would love private healthcare for my family but it's not going to happen!

pussinwellyboots Tue 02-Jul-13 06:09:42

Both DH and I work for the public sector.

For example:
~ Does your employer provided benefits package entitle you to flexible working to help make it easier for you to carry out caring responsibilities?
DH works flexi time and is able to alter his working hours to attend appointments etc where it fits. I work shifts and so have less opportunity to work flexibly but can swap my shifts around if needed.

~ Does it entitle you to income protection so that if you become ill you have the best chance of getting better quickly - without having to worry about losing your monthly wage - so as not to impact on your caring responsibilities?
Both of us are entitled to six months of full pay and six months of half pay if we became ill. As such we have felt that we do not require additional insurance for this.

~ Are you entitled to fewer employer provided benefits because you work part time, and does this impact your ability to carry out your caring responsibilities?
No, employee benefits are the same regardless of hours, but amounts applied pro rata. If needed to take time off because DCs are ill, we would share this between us.

WouldBeHarrietVane Tue 02-Jul-13 06:41:04

I have income protection through work and work flexibly. I have all the benefits I would have if I worked pt.

GetKnitted Tue 02-Jul-13 07:18:32

My -best- only perk is flexitime.but that saves me hundreds of pounds in childcare costs, so v good actually

midoriway Tue 02-Jul-13 09:45:09

Hellooo Unum [waving] I'm still here, waiting to find out why my husband's claim is sitting in someone's in box after 4 months. Trying to figure out ways not to pay it? Surely not!

prakattack Tue 02-Jul-13 10:51:26

I work for a university, and DH for the police. Both of us are entitled to pretty flexible working hours - means we are able to do the school run every morning, which we really appreciate - and DH gets very generous holiday allowance.
We're both entitled to claim childcare vouchers and have decent-ish pension schemes, but that's about it i think.
I agree with previous posters and don't really understand what they mean by income protection. We both get sick pay over and above the statutory minimum but I don't know if this applies to children's illness as well as our own. I think I may need to look that up...!

handcream Tue 02-Jul-13 11:29:36

Work for a big UK FTSE company and have done for a number of yrs. On the face it it the benefits are great. However at middle management level (me!) the pressures are very high. Long hours, responsibility for a team (and their mistakes which apparently you should have spotted having micro managed them!).

Good provision should I die and there is some sick pay (although never used it - others have).

I have private medical insurance which is a taxable perk but very much worth having I feel.

Also, get childcare vouchers but dont need them anymore.

trikken Tue 02-Jul-13 12:07:51

I work at a large retail company.

does your employer provided benefits package entitle you to flexible working to help make it easier for you to carry out caring responsibilities?

Not really. There isnt any way of having flexi time. Your hours have to work for them and you cant change them weekly. (Aside holiday or an emergency.)

~ Does it entitle you to income protection so that if you become ill you have the best chance of getting better quickly - without having to worry about losing your monthly wage - so as not to impact on your caring responsibilities?

No, we have made sure we have our own mortgage protection and life insurances, but work wouldn't cover us on their own.

~ Are you entitled to fewer employer provided benefits because you work part time, and does this impact your ability to carry out your caring responsibilities?

I am entitled to exactly the same benefits working part time as I would full time. Anything extra does help definitely, It means I'm not losing out by doing fewer hours to care at home and get helpful perks I couldnt afford otherwise.

daimbardiva Tue 02-Jul-13 12:29:14

I work for a small charity.

Our benefits are good I think - 3 months full pay, 3 months half pay then up to 6 more statutory mat leave. 3 weeks full for pat. leave

Pension is good - employer contributes 12.5%

Extremely accomodating re flexible working - both in terms of part-time etc. and varying hours as needed

sick pay up to 3 months per year.

Don't get paid if dependent sick though - has to come off AL

AnnMumsnet (MNHQ) Tue 02-Jul-13 14:09:05

midoriway - I have pm-ed you. Apologies I was in a meeting this am.

Weegiemum Tue 02-Jul-13 14:35:44

I work for a very small charity, at very small wages. I get stat sick pay (and would get maternity though that's never going to happen again!) but not much else. I work for them out of principle, rather than for what it brings in, though. They were incredibly flexible 18 months ago when I developed a disability and provided a great return-to-work package.

Dh is a GP and therefore technically self-employed. Pay is very good (he's a single handed principal) but flexibility depends a lot on locum availability.

Arcticwaffle Tue 02-Jul-13 15:12:49

I work for a university. No income protection packages, but good working conditions generally. Flexible working policies available - they ruin your career prospects hmm but apart from that minor drawback they're good and easily available to part and full time workers. 6 months fully paid sick leave (and I think 6 months on half pay).

I work for a small business (12 people). Salary is very competitive, hours are very flexible and I have been part time from the start. There is never a problem getting time off to look after sick children etc, I return the favour by always making the hours back up and try and make up any I lose through my own illness too, although that is not required. Sick pay (is that what is meant by income protection in this case?) is full pay by informal agreement, long term would be negotiable I guess.

We have no death in service, but we have a pension into which the employer pays.

I wasn't there when I had my maternity leaves, but a colleague has been treated very favourably (in terms of flexibility due to illness in pregnancy, coming back to work etc, not sure about pay).

I work for a medium sized financial services company and get a decent package

Full pay for 26 weeks if off sick
Income protection of 50% of salary from 26 weeks to 2 years
Death in Service benefit of 8 times salary
Private medical cover
A free employee assistance programme which includes second opinions, legal assistance, counselling etc

I am not worried about our finances from my point of view (I am the main earner) but DH has recently given up his job and become self employed so he gets nothing if he is off sick, on holiday etc.

In terms of flexibility, I am at a level in the company now where although I work full time it is very flexible. I can do the school run most mornings and collect from school 2 or 3 times a week. I do however then end up working when the boys are in bed/on an evening. I can also work from home if they are ill. I think this only works however as I am equally flexible and end up working very long days (and nights!), weekends etc if I need to.

Doobydoo Tue 02-Jul-13 19:41:59

nO THEY ARE NOT

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