Benefits (UK)
Hard work, commitment and effort will always be recognized and appreciated at Pfizer. We strongly believe that all our employees deserve a healthy, well-balanced and enjoyable lifestyle – both at work and at home. We offer a comprehensive and generous benefits' portfolio, which addresses personal living expectations as well as work requirements. The benefits package for permanent employees includes the following benefits.
Industry Competitive Salaries
Pfizer salaries are benchmarked against those of other pharmaceutical companies, ensuring that they always remain competitive. Salaries are determined by assessing the role, the skills required, the individual's ability and experience, and by comparison with other people doing a similar role. This ensures fairness. Relocation assistance is available where applicable.
Merit-based Salary Progression
Annual appraisals take place and any pay rises awarded following these reviews are based on individual merit.
Bonus Scheme
Employees may be awarded an annual bonus – a percentage of their salary – as part of Pfizer's discretionary, performance-related bonus scheme.
Share Purchase Scheme
All employees are entitled to purchase shares of up to a maximum value of £125 per month or 10% of salary (whichever is less). Up to the first £62.50 of shares, Pfizer will offer one matching share for every share purchased. After £62.50 worth of shares has been purchased, Pfizer will offer one matching share for every two shares purchased.
Pension Scheme
Pfizer offers a competitive company pension scheme providing a pension on retirement, as well as life insurance and ill health benefits.
Benefits Choice
Pfizer currently operates a flexible benefits scheme, "Benefits Choice" which allows you to trade some benefits for cash and vice versa. These benefits include
- Buy/sell up to five days annual leave
- Salary swap benefits within pension scheme
- Childcare vouchers
- Spouse/Partner life cover
- Dental cover
- Carbon Offsetting
- Retail vouchers
- Dental cover
Lifestyle
Flexible Working Hours
Pfizer is committed to employees being able to achieve a healthy work-life balance.
Holiday Allowance
25.5 days paid annual leave in addition to public and bank holidays. One extra day's holiday is awarded after 5 years' service and another after 10 years' service.
Employee Assistance Programme
Pfizer provides a free 24-hour private counselling and advice service via an independent external company. This service can be consulted about any difficulties, whether work-related or private, in complete confidentiality.
Health
Private Medical Scheme
A non-contributory private healthcare plan is provided for Pfizer employees and their husband, wife or partner on which tax is payable as a benefit-in-kind. Pre-existing conditions may be included depending on when the scheme is joined. Dependants may be added to the scheme at a cost of £5.00 per month per child or free if the employee is a single parent.
Occupational Health
Our Occupational Health team aims to safeguard and enhance the health of every Pfizer colleague. In particular, any possible effects that work may have on a colleague's health and any health problems a colleague may have that could affect their capability to undertake normal work.
A multidisciplinary team staffs the Occupational Health service: Occupational Health Physicians, Occupational Health advisers, Primary Health advisers and administrative support staff.
Personal & Accidents Compensation Scheme
All permanent colleagues of the company are eligible for this scheme. The scope of cover includes bodily injury caused by an accident anywhere in the world at any time resulting in:
- Death
- Loss of either one or both hands and/or one or both feet
- Complete and irrecoverable loss of sight in one or both eyes
- Permanent loss of both speech and hearing
- Permanent total disablement
Personal Development
Learning and Development
Pfizer is committed to the ongoing development of all employees. If you are interested in furthering your knowledge and skills base, you will be given every opportunity to attend courses, seminars, conferences and in-house training schemes throughout your employment. We will in many cases assist with or fully cover the financial costs of attending training courses or further education programmes.
Although this fact sheet contains information about Pfizer's current benefits, policies and other offerings for eligible employees, it is not intended to provide every detail. More details are included in the legal documents governing the various Pfizer plans and programs. In all cases, benefits and other offerings at Pfizer are subject to the terms and conditions as provided in these documents. In the event that there is a conflict between the information in this fact sheet and the official documents, the official documents shall control. The information summarized in this fact sheet is not intended to create any contractual rights or claims on the part of anyone. While Pfizer expects to continue the benefits, policies and offerings described in this fact sheet, it reserves the right to unilaterally amend, modify or terminate one or more of them at any time for any reason.