Financial Benefits
Honeywell offers you the tools to prepare for a more secure and comfortable future. From a pension program and employee share purchase options to discounts with leading retailers, the variety of programs offered meet your unique needs to help you save money and secure your retirement.
Honeywell Retirement Plan
Trust Based Defined Contribution Pension Plan
Employee contribution 5% and employer matching contributions 3%. Additional voluntary employee pension contributions are possible.
Honeywell pays administration costs for the pension fund. Annual management charges applying to investments are market leading, enabling members of the plan to receive the fullest benefit of the investment growth in their pension fund.
Employee contribution 5% and employer matching contributions 3%. Additional voluntary employee pension contributions are possible.
Honeywell pays administration costs for the pension fund. Annual management charges applying to investments are market leading, enabling members of the plan to receive the fullest benefit of the investment growth in their pension fund.
Employee Share Purchase
Employees can elect to purchase Honeywell shares using between 1% and 10% of salary. Minimum contribution is £5 per month and the maximum contribution is £125 per month. Employer matches the first 2% contribution at a 62.5% (1 employee share = 0.625 employer).
Security
Life is uncertain and you never know what’s around the corner, which is why Honeywell provides a variety of benefit programs and services to protect you from the unknown. These programs offer peace of mind should an accident, illness or disease happen to you or your family. From life insurance to paycheck protection, we have everything you need to breathe easy in challenging times.
Sickness Absence
Company sick pay (100% of weekly base salary) payable upon successful completion of probation. Up to 2 years of service: 6 weeks; 2-5 years of service: 13 weeks; 5+ years of service: 26 weeks.
Income Protection For Long Term Sickness
50% salary payable after 26 weeks absence up to maximum of 2 years.
Permanent disability assessment after 2 years for lump sum.
Permanent disability assessment after 2 years for lump sum.
Life Assurance
Provides benefit of 4 x annual salary in the event of death for pension members.
Additional sum between 0.5 x salary and 6 x salary, dependent on age.
Provides benefit of 2 x annual salary in the event of death for non-pension members.
Additional sum between 0.5 x salary and 6 x salary, dependent on age.
Provides benefit of 2 x annual salary in the event of death for non-pension members.
Business Travel Accident Insurance
Business travel accident insurance covers any employee on business travel to any country in the world when traveling outside the country of employment or domicile.
Partner Life Assurance
Employees can opt for life assurance for their partner. Available to purchase in units of £25,000 up to a maximum of £150,000 or a multiple of a maximum of 4 x the salary of the employee.
Personal Accident Insurance
Benefit paid for permanent disablement or death due to serious accident. Up to 10 units of coverage may be chosen which increases the benefit payable on approved claim. Children are covered within the employee level of benefit.