Providing for OCLC employees and their families
OCLC is committed to investing in our people, and recognises the importance of offering a range of benefits to our employees. In the UK, OCLC provides a broad package of benefits designed to foster the well-being of our employees and their families. From private medical insurance and childcare vouchers to life insurance, OCLC offers a comprehensive range of options in order for you to customise a plan that best fits your needs.
Every employee will be joined into this scheme held with Aviva, based on a Group Personal Pension plan where the contributions are invested in an account for each individual. When you pay into the scheme, we will match your monthly contribution at five per cent, and you will also enjoy tax relief on your contributions. For more information please visit the Aviva website.
Permanent Health Insurance (PHI)
This is an income replacement scheme available to pension scheme members only who will be automatically enrolled onto to it. It covers for circumstances where a member of the scheme is unable to work for a period of time due to sickness or injury. The income paid from this insurance is equal to 75% of your annual basic salary, for a maximum of two years. OCLC pays the premium for this scheme and there are no tax implications for employees.
Life Insurance Cover
This cover is automatically put in place for all employees and the benefit is a lump sum equal to four times basic salary, payable upon your death to a nominated beneficiary. OCLC pays the full premium for this insurance and there are no tax implications for the employee.
Private Medical Insurance (PMI)*
This is an optional benefit and provides private medical cover for employees who wish to participate in the scheme. This insurance scheme will enable members to organise private out-patient and in-patient treatment should the need arise. OCLC pays the full premium for this insurance, however this is a taxable benefit-in-kind under P11d rules, so a member will pay tax at the appropriate rate on the cost to the company. In addition, employees are allowed to add family members to the scheme which can be paid for on a monthly basis.
Health Cash Plan*
For members of the private medical insurance scheme, OCLC pays for employees to set up a health cash plan with Healthshield. This allows our employees to take advantage of contributions that Healthshield will make towards dental, optical and other such health related costs. It also provides our employees with access to online health assessments, personla coaching tools and 24/7 health and counselling support.
Employees are entitled to 23 days holiday per year, in addition to statutory and public holidays. Holiday entitlement increases in recognition of length of service with OCLC, up to a maximum of 28 days.
OCLC is registered with Computershare to provide our employees the facility to purchase Childcare Vouchers. The scheme is an established Government initiative to support working parents, and the vouchers can be used at many nurseries and childcare providers. The Government has capped the amount of childcare vouchers a tax-payer can request each month, and employees enter a salary sacrifice arrangement in exchange for the required amount of vouchers. This arrangement is more tax efficient than paying the childcare provider directly. More information can be found on the Computershare website.
Health Cash Plan*
The scheme is paid for by the employee through the payroll on a monthly basis. More information can be found on the Westfield Health website.
Individual sponsorship for further education courses or other external professional qualifications will be considered by OCLC as a part of our commitment to help employees maximise their full potential and enjoy personal growth. Tuition costs may be reimbursed when the study is required for the purpose of the job role.
In recognition of our international team working and collaborative culture, we encourage a flexible working environment and will endeavour to support our people, where possible, in alternative working patterns.
Sports and Social Club*
OCLC has a sports and social club which organises various events at the discretion of the sports and social committee. Employees may opt to join our sports and social club which, if wishing to become a member, both OCLC and employees contribute a small monthly payment towards.
Employee Assistance Programme
We have an Employee Assistance Programme which gives employees and their family members access to expert guidance and specialist support on any kind of issue - from everyday matters to more serious welllbeing problems. This includes guidance on family relationships, dealing with conflict, and debt management, as well as online tools such as videos and podcasts on staying healthy.
*Available upon successful completion of a three month probation period.
This summary highlights the main features of OCLC's benefits program in the UK and is intended to provide a high-level overview of the benefits offered to our employees. The terms of these programs are governed by OCLC policies. Should there be any inconsistencies between this summary and other legal or policy documents, the policy documents will govern. OCLC reserves the right to change or discontinue the benefit programs at any time.