March 30, 2017

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Benefits & Programs

Benefits and Programs

At ANSA McAL, our employees enjoy a series of benefits inclusive of our:

Group Health and Life Plan

Our Group provides permanent members of staff with Medical Health Insurance coverage to help them meet medical expenses resulting from illness of the employee and his/her dependants. Contributions to the Plan are made both by the employee and the Company. Coverage includes hospital, surgical, vision care and dental expenses.

Pension Plan

All our permanent members of staff who have been confirmed and are over the age eighteen (18) must become members of our Group’s Contributory Pension Plan. This plays a great part in our employee’s financial security after they have retired. The Plan is an accumulation type program whereby the accumulation of each member’s contributions, the contributions made by the Company for each member and investment income earned throughout the years of membership in the Plan are used to purchase a pension at retirement for each member. Permanent members of staff are required to contribute 4% of their Plan Salary (basic salary excluding commissions, fees, bonuses, ex-gratia payments and overtime payments), as regular contributions whilst the Company is required to credit a regular contribution of 4% of this Plan Salary.

Premier Card

This is an exciting discount programme offered exclusively to the members of the ANSA McAL family- our employees, shareholders and loyal Group Company customers. We have over seventy participating merchants in Trinidad and Tobago who offer thousands of dollars in savings. Our Premier Card holders enjoy huge discounts on a large variety of merchandise from clothing, household electronics and appliances, pharmaceuticals and groceries.

Summer Internship Program

In keeping with the Group’s focus on employees and their families, ANSA McAL conducts an annual Summer Internship Program. This is primarily available for the children of our employees who have completed at least Year 1 tertiary level education. The Group attempts to place students in positions throughout the Group that are matched to their studies and career aspirations, thereby allowing the interns to gain insight into the real world of work. The Programme is kicked-off with a one-day developmental workshop, which is later augmented by an on-the-job training component. Students are exposed to organizational life whilst being given the opportunity to make important contributions to the operations of the Group.

To celebrate the re-branding of this Group initiative, ANSA McAL held its first Internship Development Workshop in June 2013. Students were addressed by the Group Chairman and Chief Executive Officer, Mr. A. Norman Sabga, and were encouraged to ask open and honest questions about what makes people successful. There were also presentations by the Group Chief Operating Officer (Mr. Gerry Brooks), the Group HR Director (Mrs. Teresa White) and the Group HR team who shed light on the ANSA McAL Group’s History, How to successfully transition from University to the Workplace, Resume Writing Guidelines, Interviewing Techniques, Business Etiquette and Team Building Activities.

Employee Orientation

This event, done twice a year for newly confirmed Group employees, is hailed as one of the Group’s most outstanding occasions. Here, we officially welcome our new staff members to the ANSA McAL experience. This Orientation entails fun-filled team exercises as well as enlightening presentations from our Group Chairman and CEO, Sector Heads and other ANSA McAL Executives.

ANSA McAL Credit Union

ANSA McAL’s Credit Union is made available to all permanent and eligible members of staff. Membership is made quick and easy as staff may join by paying the relevant entrance fee and purchasing shares via payroll deductions. The Credit Union exists for the main purpose of providing a facility to enhance an employees’ savings and well as their ability to apply for loans.

ESOP shares

Arising out of our commitment to the security and well-being of our employees, ANSA McAL takes pride in its Employee Share Ownership Plan (ESOP). The Plan provides an attractive opportunity for all permanent employees to purchase the Group’s shares on the following terms:

  • Employees can use a minimum of 25% of their annual bonus to purchase shares. The sums used for purchasing these shares as well as the resulting dividends are not subject to tax.
  • Employees are able to invest in their future as well as own a stake in the Group in a hihly efficient tax manner.
  • The purchase of shares is an excellent opportunity in retirement planning; amounts withdrawn upon retirement are also not subject to tax.
  • No capital gains tax is payable on the value of any appreciation in the value of shares held in the plan.

EAP Program

The ANSA McAL Group provides employee assistance under its Employee Assistance Programme (EAP), which affords counselling and guidance to all staff on a voluntary and highly confidential basis. As such an independent EAP consultant is engaged for this purpose.

The Group recognises that a wide range of problems, not directly associated with one’s job, can affect an employee adversely. The Programme is therefore provided to facilitate the employee in accessing professional assistance to target areas that are known to pose challenges to employees within their family life, finances and financial planning, alcohol and substance abuse situations.

Long Service Program

In keeping with the Group’s Core Value “Employee Excellence”, ANSA McAL celebrates the dedication and commitment of its employees through the Group’s Annual Long Service Awards.

It gives our Company and its Executives great pleasure to honor those long standing members of staff who achieve milestone intervals of 5, 10 and 15 years of service with the Group. Those employees who celebrate 20 years of service onwards (again in 5 year intervals) are specially invited to participate in the Group’s Annual Long Service Awards held every 3 years. It is at this function where awardees are honored and presented with milestone certificates and noteworthy vouchers.