2 Consultation Initial meeting end of April 8 meetings to date, next scheduled 22nd JulyExtensive work undertaken by the Consultation Forum to develop Matrix9 different sets of Terms & ConditionsNow complete with ‘Measures’ and Representatives plan to share this with you from this weekTopics covered include:-Terms, Conditions & benefitsNew locations – Blackpool & SheffieldPensions & Flexible benefitsProcesses, Policies & Guidelines
3 Communications 1-2-1’s Microsite Group mailbox Complete for everyone who asked for a (206 in total)Received positive feedback on the two-way dialogueGathered massive amounts of useful information (individuals, roles, teams)Questions captured: working through theseGeneral questions – replies being added to MicrositeIndividual questions/personal – s will be sent direct to individualsMicrositeContinues to be updated with material and Q&A informationGroup mailboxResponding to queries regularly
4 PremisesBlackpool contractor practical completion achieved on target on the 1st July. Fujitsu specific fit-out started, the project is on target to deliver these premises for September 2010.Blackpool move planning will commence in the near future, Fujitsu will be involving the consultation forum in the detail.Fujitsu are currently in the advanced stages of finalising arrangements for premises in Sheffield. Feedback from the 1 to 1’s has been considered as an integral part of this process in terms of requirements for this location. As soon as commercials are complete the exact location will be communicated.Norcross – knowledge transfer process has now been agreed with both HPES and the DWP. This process will confirm our technical requirements going forward which will inform the decision on whether testing remains at Norcross at Day 1 or moves to Blackpool.London - Fujitsu are in dialogue with the DWP around use of the current space on site for the Adelphi and Caxton House. These are progressing well.
5 Training Skills Profiles/Checklists Thank you for completing these Being used to help us create bespoke training plans to meet your needs in line with the requirements of the service we are providing
6 Re-planningThe transition of DWP’s Desktop Services from Hewlett Packard Enterprise Services (HPES) to Fujitsu will complete later than the originally planned date of September We have made good progress to date and expect to complete Transition either late 2010 or early 2011.The Department’s priority is to deliver the benefits of Fujitsu’s transformed Desktop Services solution (i.e. a predominantly “Thin Client” solution) with no disruption to service to its customers and staff. This requires some flexibility in the handover of the Desktop Service between the two suppliers (HPES and Fujitsu). The additional time is required to ensure the smooth and seamless transition from HPES to Fujitsu. All the organisations involved continue to work closely together to achieve this.
7 Fujitsu’s Benefit Offering To Your Choices For DWPFujitsu’s Benefit OfferingToTransferees who have Modified terms and Flex FundsWe are in Consultation but this is an update on what has been discussed to date.Final decisions have not been madeCopyright 2009 Fujitsu Services Limited
8 Your Choices Company Provided Benefits Flexible Benefits which is similar to My ChoicesEmployee DiscountsOther SchemesThere are a few employees who have special arrangements, this is a general update which cannot cover every situation. If you have a specific individual issue you may wish to stay after the session has ended so that you can ask it on a basisCopyright 2009 Fujitsu Services Limited
9 Flex Funding and Benefit Administration We understand that you have a contractual right to some benefits and buy othersRecently some rights have been delivered by way of a reduced benefit and cash or flex fundOur policy is to offer the contractual benefit in full where possibleAnnual election are in June/July for the year commencing 1 AugustBenefit elections for joiners are completed electronically within a 3 week window from join date; benefits start from first of the monthCopyright 2009 Fujitsu Services Limited
10 Fujitsu Provided Benefits 4 x salary life assurance (via pension arrangement)4 x salary accidental death (lesser payments on disablement)Permanent Health Insurance (similar to LTA in HP)Employee Assistance Plan (EAP)Copyright 2009 Fujitsu Services Limited
11 Flex Fund Move to Fujitsu - Overview It has proven difficult to get 100% clarity on the composition of the flex fund and the mechanism for its reviewThe three items that Fujitsu generally provide ‘free’ should be removed from the current flex fundFull contractual holiday entitlementLife AssurancePHI (Long Term Disability)For private medical we give you an optioncontinue current allowance ortake entitlement at contractual level of cover and lose allowanceThe remainder of the flex fund continuesPaid as a fixed cash allowanceRemaining funding includes, where relevant, Dental, LTA/PHI change allowanceCopyright 2009 Fujitsu Services Limited
12 Holidays in DetailYou will be given your contractual entitlement, which, from 2010, is a fixed number of days, and the funding in your Flex fund removedExample: Currently an employees has entitlement to 25 days holiday (plus public holidays) plus Flex funding for three additional days. Going forward:The employee will be given full 28 days contractual entitlementThe Flex fund will be reduced by the ‘cost’ of three days i.e. 3 x 1/260 x salaryIf you are eligible for Your Choices you will be able to buy or sell up to 5 days each year.Currently you elect to buy/sell before the start of the calendar yearWith Fujitsu you make that decision in July of that holiday year, when you should have a better idea of what you want to select.You then pay/receive cash for 12 month from August.So in July 2011 you will decide what holiday you wish to buy/sell for 2011Copyright 2009 Fujitsu Services Limited
13 Life Assurance in Detail You will be given life assurance at the level of 4 times your Reference SalaryThe Flex fund will be reduced by the current My Choices cost to purchase this level of life assuranceThere will be no opportunity to flex down the life assurance and take additional cashIn future years cover will continue to be paid by Fujitsu – so no dependence on a review of the allowanceEveryone eligible for Your Choices will be able to select additional life assuranceCopyright 2009 Fujitsu Services Limited
14 PHI in DetailPermanent Health Insurance (PHI) and Long Term Absence (LTA) are the same thing, just different namesPHI cover at the level equal to 50% of Reference Salary after 52 weeks absence:Payable to age 65, or return to work (not just 5 years)Indexed to inflation, max 5%Additional 5% of salary paid to pension to cover employee contributionFujitsu pays employer pension, based on ‘full’ salary, not cash receivedThere is no reduction to allow for state benefits (ESA)Company sick pay will be used to cover the period from 26 to 52 weeks where you would previously have had LTAThe Flex Fund will be reduced by the current My Choices cost to purchase contractual LTAThere will be no opportunity to flex down the cover and take additional cashIn future years cover will continue to be paid by Fujitsu – so no dependence on a review of the allowanceCopyright 2009 Fujitsu Services Limited
15 Private Medical in Detail Fujitsu’s arrangement has one level of cover which is similar to Scheme 3 (the top scheme) and has no excessYou will have a one time choice, two options:1. Keep the allowance in Flex Fund:Continue to have the right to select cover through Your ChoicesPurchase costs are age related2. Have your Flex Fund reduced by the current My Choices cost of your contractual entitlement and Fujitsu will give you that level of membership as a Company paid benefit:Able to modify cover through Your ChoicesIf you flex down no cash will be given, but reduced tax costIn future years cover will continue to be paid by Fujitsu – so no dependence on a review of the allowanceCopyright 2009 Fujitsu Services Limited
16 Dental Benefit Your funding remains in the flex fund You decide whether to purchase cover through Your Choices
17 Summary of SolutionA modified Flex Fund amount will be paid as a fixed Cash AllowanceFor life assurance, PHI and holiday:Fund reducedSimilar package of benefits givenFujitsu takes risk of increased costMedicalOne off choice, two optionsKeep the allowance or take company eligibilityContinue to decide the level of benefit you want, via Your ChoicesFujitsu takes risk of increased costs if company eligibility selectedRemainder of Flex Fund including dental etc will be paid monthly as a fixed Cash Allowance, along with salaryCopyright 2009 Fujitsu Services Limited
18 Health ScreeningA majority of employees have a right to a health screen once every few yearsFujitsu cannot easily replicate this benefitEmployees can purchase a screening in three waysYour Choices - Healthcare Cash PlanYour Choices - Health ScreeningBUPA Health AssessmentOne time settlement of £30 pa for those eligibleCopyright 2009 Fujitsu Services Limited
19 Flexible Benefit Enrolment Enrolment PeriodThree weeks from joining the Company, selection takes effect from 1st of the month after you complete your selectionAnnual enrolment period is in June/July to take effect in AugustHolidays and Health Screening may only be selected during the annual enrolment period in June/July for the benefit year which starts 1st August each yearManaged via Salary Sacrifice which we call Salary SwapCopyright 2009 Fujitsu Services Limited
20 Employee Discounts Available via Your Choices on Café VIK for a wide range of discounts and offersHigh Street ShopsSupermarketsHolidaysVIP eventsAnd many moreAdditional offers available on Café VIKLog in using UK personal number and password ‘fujitsu’ in lower caseIncludes Halfords 15%, High Street Shops, Supermarkets, Holidays etcCopyright 2009 Fujitsu Services Limited
21 Other Schemes Available via links on Café VIK Cycle to work Scheme Payroll GivingIntroduce a FriendFamily & Friends PC Offers at
23 Flexible Benefits Benefits on which you can save NI Private Medical Cover for employee, spouse/partner and/or children, if not Company providedHealthcare Cash Plan (employee and children, employee & family)Dental Cover (employee, spouse/partner and/or children)Critical Illness (employee spouse/partner and/or partner)Personal Accident Cover (employee, spouse/partner and/or children)Spouse/Partner Life AssuranceSpouse/Partner Health ScreeningTravel Insurance (employee, spouse/partner and/or children)Copyright 2009 Fujitsu Services Limited
24 Flexible Benefits Benefits on which you can save income Tax and NI Childcare VouchersHoliday - Buying up to 5 daysEmployee Health ScreeningAdditional Life AssuranceBenefits on which there is no saving in tax or NIRetail vouchers – up to 9% savings on the face value of vouchers from a wide range of retail storesHoliday – Selling up to 5 daysCopyright 2009 Fujitsu Services Limited
25 Your pension going forward with Fujitsu July 2010Pension PresentationYour pension going forward with FujitsuCopyright 2010 Fujitsu Services LimitedCopyright 2009 Fujitsu Services Limited
26 Agenda What scheme are we offering Employee contributions paid by employer through “Salary Swap”Transfer terms and optionsAVCsWhat next?QuestionsUse the Opening Page and Agenda topics to frame the discussion - why you felt it was important to hold such an event and the key aims of the session:- recognise the potential of graduates within the D&NS business- felt important to keep graduates updated regarding current events and the strategy moving forward- refreshing to hear new viewpoints, hope that some of these are expressed during the question and answer sessions and the informal discussions over lunchCopyright 2009 Fujitsu Services Limited
27 Benefits comparable to those under the Civil Service Option to join section C of the Fujitsu Comparable Pension SchemeLike the EDS 1994 Plan the Fujitsu scheme is certified by Government Actuary’s Department as offering “a package of benefits that is broadly comparable” to PCSPS Classic
28 Salary Swap – to save NIWhat is it?An efficient way for you to pay employee contributionsOffers National Insurance (NI) savings for you and FujitsuHow it worksYour gross salary (i.e. salary before Income Tax and NI contributions), which we call Reference Salary, is reduced by the amount of your contributionFujitsu then pay this contribution on your behalfYou pay less NI as the salary you are paid (Actual Salary) is lowerPension and other benefits, allowances, pay review & overtime all based on pre-reduction “Reference Salary”
29 Salary Swap Example – 2010/11 Tax Year On a salary of £30,000 and paying the standard 1.5% employee contribution1.5% salary reductionSalary paid to employeeEmployee NI contributionEmployee 1.5% contributionTaxable salaryEmployee NI savingSalary deductionN/A£30,000£2,272£450£29,550Salary Swap£2,229£43
30 Salary Swap – employee NI saving for 2010/11 For members of the Fujitsu Comparable Pension Scheme on pensionable pay of up to £43,888 the NI saving will be at least 9.4% of the employee pension contributionNI saving starts to reduce towards minimum of 1% where pensionable pay exceeds £43,888Applies for 2010/11 Tax Year. Figures may differ for subsequent years.
31 Fujitsu Comparable Pension Scheme Section C You may join and start accruing pension from date of transferYou can also transfer the pension accrued within your HP pension to Fujitsu Comparable Pension Scheme for an equivalent service creditIf you do not join when you move you will not be able to join this Scheme at a later date
32 Future Pension Entitlement Comparable to Classic section of PCSPSBasic retirement benefits include:1/80th of your Final Pensionable Pay (FPP) for each year3/80ths of your FPP as Tax-Free Cash for each yearNormal Pension Age 60 (but you continue to earn benefits if you work up to contractual retirement age of 65)Pension Increases – RPI up to a maximum of 7.5% p.a.compound calculated on a cumulative basis (but may be modified in line with Government changes).Employee Contributions – 1.5% of Pensionable PayContracted-out of State Second Pension (SERPS)
33 Future Pension Entitlement Drawing your retirement benefits earlyOption to take benefits from age 55* if no longer in Company serviceCompany consent needed if taking benefits while still remaining in serviceAccrued pension reduced for early payment(*Some members may retain right to retire from age 50)Ill-Health BenefitsSubject to Trustee’s discretionPension based on actual service to date plus potential future service to age 65Tax free cash sum based on actual service to date plus ½ of potential future service to age 65
34 Future Pension Entitlement Death-In-Service BenefitsLump Sum of 4 x Final Pensionable Pay (FPP)Spouse’s Pension of 50% of pension member would have received at 65 based on current FPPChildren’s pensions of ¼ of spouse’s pension per child (up to a maximum of 4 children)Payable on death while a contributing member of Scheme
35 Fujitsu Comparable Scheme Occupational Pension SchemeSet up under Trust with assets separate from employerAdministered by Xafinity (Section C)Trustee is Fujitsu Comparable Pension Trust Ltd which includes member nominated directors
36 Transfer terms and options Transfer basis secures “year for year” equivalent service creditsIf you decide to transfer from HP, all pension rights must be transferred
37 AVCsIf you have AVC’s, they will transfer with your main pension rights and will be invested with:Friends Provident funds, five fund options including:Lifestyle investment strategyIndex-Tracker fund
38 The small printThe foregoing is a brief summary of the benefits under the Fujitsu Comparable Pension Scheme.It is subject to its own formal governing document, a Trust Deed and Rules, which details all the benefits payable together with the relevant terms and conditions.The provisions of the Trust Deed and Rules are overriding and will prevail in the event of any ambiguity or uncertainty.In line with any Government changes to PCSPS, the Fujitsu Comparable Pension Scheme may be subject to modification from time to time BUT will always meet the requirements for GAD approval.
39 What Next?You will receive a new joiner pack about 3 weeks before start date which will include pension scheme documentation to be returned if you wish to join the scheme3-6 months after joining, you will get information regarding the option to transfer your accrued benefits to the Fujitsu schemeOn receipt of the above information you will have 3 months to decide whether to transfer your accrued benefitsAny questions in the meantime should be addressed to
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