![]() ![]() “When we re-entered the market in 2010, we already knew the market had moved on and we couldn’t just be a one-trick pony,” says Wesley. It now offers bikes for work, car leasing, will writing and retail vouchers, as well as childcare vouchers. In his Budget speech in March, Chancellor George Osborne announced his decision to abolish the legal requirement for defined contribution (DC) pension scheme members to convert their retirement pot into an annuity at retirement, prompting much speculation about the future of annuity providers.Īttendees at the roundtable debate said the increasing number of new market entrants, particularly in the health and wellbeing sector, is complicating the task of appointing providers most closely aligned to their organisational and workforce needs.īut Louise Wesley, director of operations at Busy Bees Benefits, says the repositioning trend is an inevitable evolution of the benefits market that is being fuelled by employer demand.īusy Bees repositioned itself as a benefits provider and relaunched as Busy Bees Benefits in 2010 after selling its childcare voucher business, Busy Bees Childcare Vouchers, to Computershare Voucher Services in 2009. “Providers that have a specialist market niche in childcare are suddenly popping up offering cars and bikes. ![]() “It’s getting more complicated with things like childcare voucher providers,” says Hodson. ![]()
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