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Employee Benefits
An employee’s contract will often include benefits in addition to basic salary. Some are complex and at Hart Brown we regularly advise on:
Employee Share Schemes which include:
- Company share option plans – employees have the right to purchase shares in the company at a specified date and price in the future
- Share save options - employee can use the proceeds of a savings plan to exercise a share option after a specified period
- Share incentive plans - employees have the right to acquire actual shares rather than options to purchase shares in the company
- Enterprise managment incentive option - used by smaller and more risky companies employees can enjoy tax advantages
Occupational Pension Schemes which generally fall into two types:
- Defined contribution schemes ( or money purchase schemes) - where both the employer and the employee make contributions to the scheme. The value of the pension is therefore dependent on the level of contributions made and the performance of the fund.
- Final salary scheme - where the pension is based on an employee’s final salary. These are becoming more rare because of cost.
Permanent Health Insurance (PHI) which provides an employee with income protection during periods of long term sickness.
To speak to someone who can advise on employee benefits or any other employment related issue call, email or request a call back from one of our specialist lawyers.