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Jasmine's Story

Photo of Jasmine

Jasmine is 20 and joined the Group just over a year ago. She lives at home with her parents and enjoys music, going out with friends, partying, clubbing, cycling, being free and having money to spend.

Last year Jasmine elected the following benefits through RBS elect

  • Shopping Vouchers - to pay to her mother instead of rent.
  • Fashion Vouchers - to keep up to date with the latest trends.

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

"High street" price Annual cost to Jasmine Her extra value
Supermarket Vouchers £2,400 £2,250 £150
Fashion Vouchers £600 £540 £60
Total £3,000 £2,790 £210

Jasmine appreciates the financial benefit of making elections through RBS elect and in addition to those she made the previous year, she took a bicycle and vouchers to help pay for her holiday as part of the one-off election in February. This provided a further saving of £69 increasing the extra value she has received by tailoring her pay & benefits package to £279.

Jasmine's total reward...

Here we detail the elements which help to make up Jasmine's Total Reward for this year. As you can see, her total package from the Group is actually worth over 30% more than her salary alone.

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

Salary £12,000
Benefit Funding (Can be used along with salary for Retirement Savings Plan, other RBS elect benefits or taken as cash) £3,000
ValueAccount £15,000

These items are variable.

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

Bonus/Incentive payments £800

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

RBS elect choices £210
Total £16,010

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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