benefit strategies: voluntary benefits

What are voluntary benefits?

Voluntary benefits are discounted products made available through the employer which employees can choose to purchase.  Sometimes the employer makes a small or equal contribution towards the cost of purchasing the benefit.

• Are used by employers to improve the value of the overall benefits programme for their employees through a wider choice and discounted pricing.
• They increase the range of employee benefits employers provide without a big impact on employers costs.
• They are often used as a first step towards implementing flexible benefits prior to  introducing a full flex scheme?