LONDON, April 9, 2014 (GLOBE NEWSWIRE) -- Willis Group Holdings plc (NYSE:WSH), the global risk adviser, insurance and reinsurance broker, has announced the launch of Reward Zone, a new service that makes it quicker and easier for employers to meet their obligations under UK pension reforms, and to offer attractive packages to help recruit, retain and motivate employees.
Reward Zone consolidates a number of services from leading benefit providers that enable employers to extend and enhance the benefits they offer to their employees. The solution also provides companies with a way to communicate and manage benefits through an online portal.
Employers can pick and choose from the services available, which include:
- A low cost online benefits system for employee engagement, pension auto-enrolment and benefit administration.
- Access to preferential terms with benefit providers to reduce benefit spend and to streamline administration.
- A qualifying workplace pension with an annual management charge of 0.48%, well below the new government maximum of 0.75% that will take effect from April 2015.
- Voluntary and flexible benefits to extend the range of benefits available to staff.
- A total reward statement to communicate the overall value and breadth of each employee's package in terms of salary, other pay elements, plus the value of the pension and other benefits provided.
Adam Maher, Director of Total Rewards and Flexible Benefits at Willis Employee Benefits, commented: "Clients require cost-effective ways to extend and enhance the packages they offer employees, to manage new requirements under pension reform, and to improve employee communication and engagement with benefits. Reward Zone will enable clients of all sizes to meet their obligations under pension reform and at the same time provide wider benefits that their staff will really value."
Tony Powis, Chief Executive Officer of Willis Employee Benefits, said: "Reward Zone is breaking new ground. Through the use of the latest technology, it will meet the employee benefit needs of our clients without the investment in time and infrastructure that was previously required to implement an online system. When you combine this with pre-negotiated terms from a whole range of benefit providers, Reward Zone enables us to enhance the service we provide to our clients and deliver more engaging packages and better value for money."
About Willis
Willis Group Holdings plc is a leading global risk adviser, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 18,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website,www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.