TOTAL REWARD
MOD launches UK’s biggest total reward statement
The Ministry of Defence has introduced an online total reward statement for its 215,000 personnel, making it the UK’s largest ever total reward project.
The Armed Forces’ Benefits Calculator was designed in conjunction with employee benefits consultants, Thomsons Online Benefits, and builds on the success of the Pension Calculator which was launched in July 2005.
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The internet-based tool offers service personnel a convenient and quick way of assessing the indicative value of their total remuneration package, incorporating basic pay, specialist pay, individual allowances, pension, and other MoD-provided benefits. It will also enable personnel for the first time to be able to access a range of remuneration-related information from a single dedicated site.
How it works
The interactive tool will make it much easier for service personnel to make a direct comparison between the total remuneration package offered by the MoD and that offered by civilian employers. It includes information on a variety of remuneration-related matters:
discounts, principally through the Defence Discount Directory
news and information on pay and allowances matters
financial education information
the opportunity to take advantage of financial products offered by major financial institutions, some of which will be aimed specifically at service personnel.
The calculator will also be made available to potential recruits keen to investigate the type of reward package that might be available should they choose to join the Armed Forces.
A final word
“The Armed Forces’ Benefits Calculator is a significant step forward in giving our people clearer visibility of the overall remuneration package the MoD has to offer. It builds on the Pension Calculator first introduced in 2005 and we hope that it will be just as successful and popular with service personnel in helping them understand the value of their remuneration.” - Air Cdre Ross Paterson, Director of Service Personnel Policy (Pay and Allowances), whose staff have developed the calculator in conjunction with Thomsons Online Benefits.
”The success of the Pension Calculator demonstrated how technology can be used within the MoD as a tool to communicate complex remuneration issues to service personnel.” - Chris Bruce, Managing Director of Thomsons Online Benefits.
Want to know more?
The Armed Forces Benefits Calculator can be viewed at www.mod-abc.co.uk.
Thomsons Online Benefits says its vision has been to “transform employees' appreciation and understanding of their reward package and to remove the administration and communication headaches organisations suffer as a result of running them”. Further information can be found at www.thomsonsonlinebenefits.com.