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Angela's story

Photo of Angela

Angela is approaching 40 and has three young children. She has just returned to work and the children go to nursery school. She and her partner both wanted the security of health cover and Angela has tailored her Total Reward to suit these needs.

Over the course of the last year, Angela has increased her Total Reward through RBS elect as follows:

"High street" price Annual cost to Angela Her extra value
Supermarket Vouchers £2,400 £2,250 £150
Private Medical Cover £1,351 £589 £762
Critical Illness Insurance £299 £135 £164
Life Assurance-Spouse/Partner £238 £108 £130
Childcare Vouchers £2,640 £2,170 £470
Total £6,928 £5,252 £1,676

Angela appreciates the financial benefit of making elections through RBS elect and says "Without Childcare Vouchers, we'd have to do without a few luxuries throughout the year".

Angela's total reward...

Here we detail the elements which help to make up Angela's Total Reward for this year. As you can see, her total package from the Group is actually worth nearly 40% more than her salary alone.

These fixed items form the basis of Angela's package:

Salary £25,000
Benefit Funding (Can be used along with salary for Retirement Savings Plan, other RBS elect benefits or taken as cash) £6,250
ValueAccount £31,250

These items are variable.

By receiving an individual bonus reflecting Angela's performance, the following payment was added to her reward package.

Bonus/Incentive payments £2,000

The added value of some of the rewards Angela has chosen may not be obvious until she has taken a closer look at the value of tax and other savings.

RBS elect choices £1,676
Total £34,926

Note: The actual extra value would depend on your personal situation in terms of tax and National Insurance. The "High street" prices are based on a conservative estimate of comparable products available outside RBS elect. Where these prices are impacted by age or location we have based our calculations on someone aged 35, living on mainland UK but outside London, therefore the actual extra value could be different to the figures shown above. We regularly review the cost of the benefits we offer through RBS elect to make sure our employees have access to highly competitive prices.

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