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Bringing together important elements of your reward from J.P. Morgan

Main Guide 2016

WELCOME TO ELEMENTS

Contents Welcome to ELEMENTS . . . . . . . . . . . . . . . . . . . . .3 How My Benefits Works . . . . . . . . . . . . . . . . . . . . 4 ELEMENTS at a Glance . . . . . . . . . . . . . . . . . . . . . .5 Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 ESPP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Money Extra . . . . . . . . . . . . . . . . . . . . . . . . . . . . Money Advice Service . . . . . . . . . . . . . . . . . . . . . . Mortgage Advice Service . . . . . . . . . . . . . . . . . . . . . Payroll Giving . . . . . . . . . . . . . . . . . . . . . . . . . . . Small Change . . . . . . . . . . . . . . . . . . . . . . . . . . .

8 8 8 8 8

Protection . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Accidental Death and Dismemberment . . . . . . . . . . . . 10 Critical Illness Insurance . . . . . . . . . . . . . . . . . . . . 10 Dependant’s Benefit . . . . . . . . . . . . . . . . . . . . . . . 11 Gadget Insurance . . . . . . . . . . . . . . . . . . . . . . . . 11 Income Protection . . . . . . . . . . . . . . . . . . . . . . . . 12 Life Assurance . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Life Assurance – Additional . . . . . . . . . . . . . . . . . . . 13 Life Assurance – Partner . . . . . . . . . . . . . . . . . . . . 13 Personal Accident Insurance . . . . . . . . . . . . . . . . . . 14 Travel Insurance . . . . . . . . . . . . . . . . . . . . . . . . . 14 Will Writing . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Health . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Dental Insurance . . . . . . . . . . . . . . . . . . . . . . . . . 17 GymFlex . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Healthcare – UK Plan . . . . . . . . . . . . . . . . . . . . . . 18 Healthcare – Premier Plan . . . . . . . . . . . . . . . . . . . . 18 Healthcare – Premier Plus Plan . . . . . . . . . . . . . . . . . 19 Health Screening . . . . . . . . . . . . . . . . . . . . . . . . . 19 Health Screening – Partner . . . . . . . . . . . . . . . . . . 20 Onsite Fitness Centre . . . . . . . . . . . . . . . . . . . . . . 20 Optical Insurance . . . . . . . . . . . . . . . . . . . . . . . . 21 Private GP Service . . . . . . . . . . . . . . . . . . . . . . . . 21

Health Extra . . . . . . . . . . . . . . . . . . . . . . . . . . . Dental Discounts . . . . . . . . . . . . . . . . . . . . . . . . Employee Assistance & Work-Life Progaramme – UK . . . . Eye Care Vouchers . . . . . . . . . . . . . . . . . . . . . . . Flu Vaccinations . . . . . . . . . . . . . . . . . . . . . . . . Incorpore (short term gym discounts) . . . . . . . . . . . . Onsite Private GP Service . . . . . . . . . . . . . . . . . . . Physiotherapist . . . . . . . . . . . . . . . . . . . . . . . . . Practice Nurse . . . . . . . . . . . . . . . . . . . . . . . . .

22 22 22 22 22 22 22 22 22

Parental – Benefits for your Parents . . . . . . . . . . . . 24 Critical Illness Insurance for your Parents . . . . . . . . . . 24 Dental Insurance for your Parents . . . . . . . . . . . . . . 24 Family Homecare . . . . . . . . . . . . . . . . . . . . . . . . 25 Health Screening for your Parents . . . . . . . . . . . . . . 25 Optical Insurance for your Parents . . . . . . . . . . . . . . 26 Lifestyle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Bicycles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Childcare Vouchers . . . . . . . . . . . . . . . . . . . . . . . 29 Restaurant Discount Card . . . . . . . . . . . . . . . . . . . . 30 Retail Discount Card . . . . . . . . . . . . . . . . . . . . . . . 31 Lifestyle Extra . . . . . . . . . . . . . . . . . . . . . . . . . 32 Back-up Childcare . . . . . . . . . . . . . . . . . . . . . . . . 32 Discount and Concierge Service . . . . . . . . . . . . . . . . 32 Frequently Asked Questions . . . . . . . . . . . . . . . . . 33 Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35

2

WELCOME TO ELEMENTS

Welcome to ELEMENTS Welcome to ELEMENTS, J.P. Morgan’s UK flexible benefits plan. ELEMENTS has five sections: Money, Protection, Health, Parental and Lifestyle and this guide will provide you with a summary of the benefits available to you. You should access the ELEMENTS website via the intranet > [email protected] > ELEMENTS for more information about any of the benefits highlighted in this guide.

The My Benefits section of the ELEMENTS website is where you make your flexible benefits selections. Here you will find the benefits groups listed. Click on the group name and the benefits within the group are shown. Then click on the Change button and you can amend or select a benefit. If you want to select one of the Parental benefits you must first add your parent(s) to your dependants listed on the website. Once done the Change buttons will appear. This brochure contains brief details of each of the ELEMENTS benefits. Where appropriate, you will also find the details of benefits which sit outside of the flexible benefits plan at the end of each section. Annual Enrolment runs from Monday, 22 February to midnight Tuesday, 15 March 2016, with benefits vesting on 1 April 2016. New hires to J.P. Morgan after the Annual Enrolment window has closed will be sent details by the ELEMENTS Helpdesk on how to make their benefits selections. When making your benefit selections, please remember that you are committing to a change to your Terms and Conditions for the 2016-17 Benefits Year. Unless you

experience a qualifying Lifestyle Event, you will not be able to make changes to your benefit selections until the next Annual Enrolment. Lifestyle Events include getting married, having a baby and moving home. A full list of eligible Lifestyle Events is available on the ELEMENTS website. We would strongly recommend that you log on to the ELEMENTS website and access the My Benefits section to see what is available for the Benefits Year. Think about how you could combine the benefits on offer to better suit the needs of you and your family and to save you money. All benefits are subject to their applicable terms and conditions, and relevant policy documents, which are available on the ELEMENTS website. You are advised to read all the information available before selecting any benefits. If you have any questions regarding your benefit selections, please contact 020 7134 0606, option 4, or email j[email protected]

3

WELCOME TO ELEMENTS

How My Benefits works When you access this section of ELEMENTS you will see both Core and Flex benefits listed. Core benefits are provided to you as part of your overall reward package at J.P. Morgan. If you select Flex benefits you will sacrifice part of your monthly salary to pay for these over the course of the 2016-17 Benefits Year (with the exception of the Restaurant Discount Card which is sacrificed in full from your April salary). By paying in this way you will, in a number of cases, benefit from tax and/or National Insurance Contributions savings.

Before

After

Your Core and Extra benefits

Your Core and Extra benefits

Your Flex Benefits

Your Reference Salary

Your Flex Salary

Your Reference Salary

The amount which you receive in your pay each month after making your flexible benefit choices is known as your ‘Flex Salary’. This will vary according to the benefits you select.

The costs that are specific to your personal circumstances are given on the ELEMENTS website.

4

WELCOME TO ELEMENTS

ELEMENTS at a Glance

Health Extra

In this guide you will find a summary of the Core benefits that form part of your overall reward package at J.P. Morgan and the Flex and Extra benefits available to you, divided into the following sections: Money Pension

Core & Flex

ESPP

Flex

Barbican Dental

Extra

Eye Care Vouchers

Extra

Flu Vaccinations

Extra

Incorpore

Extra

Onsite Private GP

Extra

Physiotherapist

Extra

Practice Nurse

Extra

Parental – Benefits for your Parents

Money Extra

Critical Illness Insurance for your Parents

Flex

Dental Insurance for your Parents

Flex

Money Advice Service

Extra

Family Homecare

Flex

Mortgage Advice Service

Extra

Health Screening for your Parents

Flex

Payroll Giving

Extra

Optical Insurance for your Parents

Flex

Small Change

Extra

Lifestyle

Protection

NEW for 2016-17

NEW for 2016-17

Bicycles

Flex

Accidental Death and Dismemberment

Core

Childcare Vouchers

Flex

Critical Illness Insurance

Flex

Restaurant Discount Card

Flex

Dependant’s Benefit

Core

Retail Discount Card

Flex

Gadget Insurance

Flex

Income Protection

Core

Life Assurance

Core

Life Assurance – Additional

Flex

Life Assurance – Partner

Flex

Personal Accident Insurance

Flex

Travel Insurance

Flex

Key

Will Writing

Flex

These icons indicate the type of benefit or where there are savings or actions you need to take.

NEW for 2016-17

Health Dental Insurance

Flex

GymFlex

Flex

Healthcare – UK Plan

Core

Healthcare – Premier Plan

Flex

Healthcare – Premier Plus Plan

Flex

Health Screening

Core & Flex

Health Screening – Partner

Flex

Onsite Fitness Centre

Flex

Optical Insurance

Flex

Private GP Service

Flex

NEW for 2016-17

Lifestyle Extra Back-up Childcare

Extra

Discount and Concierge Service

Extra

Discounted and New Cars

Extra

Employee Assistance Service

Extra

Core – benefits offered to you by J.P. Morgan

 ou save UK income tax on the Y cost of this benefit.

Flex – benefits you can choose through salary sacrifice

You save National Insurance on the cost of this benefit.

Extra – benefits and resources available to you throughout the year

You will need to complete an additional form(s) for this benefit: available through the ELEMENTS website. If you want to cover your dependants then you need to make sure you have added their details and then allocated them to your chosen benefit. 5

MONEY

Be Safe Smart ways to look after your money Money . . . . . . . . . . . . . . . . . . 7 Pension . . . . . . . . . . . . . . . . . . 7 ESPP . . . . . . . . . . . . . . . . . . . . 7 Money Extra . . . . . . . . . . . . . . 8 Money Advice Service . . . . . . . . . . 8 Mortgage Advice Service . . . . . . . . 8 Payroll Giving . . . . . . . . . . . . . . . 8 Small Change . . . . . . . . . . . . . . . 8

6

MONEY

Pension

ESPP Share Scheme

As part of your Core benefits, J.P. Morgan pays contributions towards the J.P. Morgan UK Pension Plan on your behalf. In addition, you can also make contributions which are matched by J.P. Morgan on a 1:1 basis up to 6%. These are known as ‘Employee Flex Matched Contributions’.* Employee Flex Matched Contribution % of pensionable salary

J.P. Morgan’s matching contribution % of pensionable salary

1%

1%

2%

2%

3%

3%

4%

4%

5%

5%

6%

6%

You may also make additional contributions above 6% but these will not be matched by the Company. Contributions are invested in your pension account which may grow over time, built up by further contributions and investment returns. When you retire there is flexibility around how you access your retirement savings. Please note that you can start, stop or change matching or additional pension contributions once every three months during the 2016/17 benefits year. As a member of the Plan your dependants have an entitlement to the following if you die whilst in service:

ELEMENTS > My Benefits > Pension Helpdesk 020 7134 0606, option 3 Website [email protected] > Retirement savings > My Pension Forms to complete: Nomination of Beneficiaries form available via [email protected] > Retirement savings > My Pension > My Beneficiaries

• Life Assurance lump sum of four times your pensionable salary • Dependant’s Benefit for your partner and children.** The Life Assurance lump sum is normally paid free of Inheritance Tax, provided the Trustee of the Plan exercises discretion in relation to who receives this benefit. Therefore, you must complete a Nomination of Beneficiaries form so that the Trustee can consider your wishes in the event of your death. You can complete the Nomination of Beneficiaries form online via [email protected] > My Pension > My Beneficiaries. You should make sure you keep this up to date. (For information, if you select Life Assurance – Additional you will also need to complete a separate Nomination of Beneficiaries form for that benefit.)

• The ESPP allows you to purchase J.P. Morgan common stock at a 5% discount through monthly payroll.

ELEMENTS > My Benefits > ESPP Share Scheme

• All permanent employees who are eligible for UK cash benefits and have a total cash compensation of less than $250,000 can participate in the scheme.

Helpdesk 020 7134 0606, option 4

Provider J.P. Morgan

• Enrolment for the scheme usually takes place in December. Your next opportunity to join will be December 2016. • You can choose to contribute from $240 up to $25,000 a year (£13 to £1,290 a month). • This benefit can be changed or deselected at Annual Enrolment or by the ESPP Changes self select Lifestyle Event. Changes in contribution levels can only be within the prescribed range of minimum £13 per month and maximum £1,290 per month. If any employee deselects the benefit during the Benefits Year, they cannot reselect it until the next ESPP enrolment window (held annually in December). • J.P. Morgan common stock is denominated and traded in US Dollars, therefore you should be aware there is a potential exchange rate gain or loss between Sterling and US Dollars.

* If your contributions are limited by the tapered Annual Allowance, alternative arrangements may be available. ** If you have opted out and then rejoined the Plan you will not be eligible for the Dependant’s Benefit.

7

MONEY EXTRA

Money Advice Service

• Access to free and unbiased money advice.

• Visit www.moneyadviceservice.org.uk for full details.

• It covers specific topics such as saving and investing, managing debt, the financial implications of having a baby, homes and mortgages and many more.

• The Money Advice Service is not regulated by the Financial Conduct Authority and cannot give you specific product recommendations.

• Online tools are available for help with budgeting and debt calculation.

Mortgage Advice Service

• Access free impartial mortgage advice.

Payroll Giving

• Payroll Giving is a simple, tax effective way to donate to causes you care about through your salary.

Provider: Money Advice Service Helpdesk: 0300 500 5000 Monday to Friday – 8:00 a.m. to 8:00 p.m. Saturday – 9:00 a.m. to 1:00 p.m. Web chat: Monday to Friday – 8:00 a.m. to 8:00 p.m. Saturday – 9:00 a.m. to 1:00 p.m.

ELEMENTS > Money > Mortgage Advice Service

• Charles Cameron & Associates specialise in finding the most appropriate mortgage products for Employees whether you are a first time buyer, looking to re-mortgage, purchase an Investment Property or purchase a holiday home overseas.

• There are three ways in which you can donate: Regular Payroll Giving, a Freedom Account, or a One-Off Charitable Donation.

ELEMENTS > Money > Money Advice Service

Provider: Charles Cameron & Associates Helpdesk: 0207 680 7142

• If you make regular donations to charity through Payroll Giving, your Freedom Account, or nominate an annual donation through your IC, providing you are paid via the UK Payroll, your donation will be automatically matched through the J.P. Morgan Matched Giving Scheme.

ELEMENTS > Money > Payroll Giving Provider: Charities Trust Helpdesk: 0151 286 5129

• Visit www.charitiestrust.org for full details.

Small Change

Small Change is an exciting initiative and has been developed in collaboration with EMEA Philanthropy and U.K. Payroll. It allows you to donate the “small change” from your monthly pay to the firm’s chosen corporate charity, Age U.K. How it works This voluntary monthly collection will always be less than one pound, and will be taken from your net income. In other words, your net pay will be rounded down to the nearest pound, with the pence given to Age U.K. Here’s an example of how Small Change works:

£1234.56

£1234.00

£0.56

Your net pay

Net pay to you

Small Change Donation

The current Small Change cycle is from April 2016 – March 2017, with next cycle running April 2017 - March 2018. You will be given the opportunity to select to opt in/out during March 2017.

ELEMENTS > Money > Small Change Helpdesk: 020 7134 0606, option 0

Beneficiary charity The firm’s chosen corporate charity for 2016 will be Age UK. This U.K.-based organisation inspires, supports, and provides services and advice to the 14 million people in the U.K. who have reached later life. The organisation also offers friendship and companionship to the 2.9 million older people who have no one to turn to. Please note: When the firm changes its official corporate charity, all Small Change participants will be notified via email. For more information on Age UK, please visit www.ageuk.org.uk

8

PROTECTION

Be Smart Protect yourself and your family Protection . . . . . . . . . . . . . . . 10 Accidental Death and Dismemberment 10 Critical Illness Insurance . . . . . . . . 10 Dependant’s Benefit . . . . . . . . . . 11 Gadget Insurance . . . . . . . . . . . 11 Income Protection . . . . . . . . . . . 12 Life Assurance . . . . . . . . . . . . . 12 Life Assurance – Additional . . . . . . 13 Life Assurance – Partner . . . . . . . . 13 Personal Accident Insurance . . . . . . 14 Travel Insurance . . . . . . . . . . . . 14 Will Writing . . . . . . . . . . . . . . . 15

9

PROTECTION

Accidental Death & Dismemberment • J.P. Morgan provides you with Accidental Death and Dismemberment (AD&D) cover of two times your Reference Salary, subject to acceptance by the Insurer. • Cover provides a lump sum payment if you die or suffer a permanent disability such as loss of a limb, loss of sight, loss of speech or loss of hearing, or total permanent disablement as a result of an accident. There is also a lump sum death benefit should you die as a result of an accident. • Other permanent injuries are also covered and will attract a proportion of the total benefit. The amount of the payment will be dependent on the severity of the injury.

Critical Illness Insurance

ELEMENTS > My Benefits > Accidental Death & Dismemberment Provider AIG Helpdesk 020 7134 0606, option 0

ELEMENTS > My Benefits > Critical Illness Insurance

• Critical Illness Insurance pays out a lump sum if you are diagnosed as suffering from certain serious illnesses which are insured under this policy.

Provider Legal & General Helpdesk 020 7134 0606, option 0

• You can choose to cover: yourself or you and your partner. • Cover is available in units of £25,000 up to a maximum of £500,000 or five times your Reference Salary (whichever is the lower). • Cover for your partner is available in units of £25,000 up to a maximum of £250,000. You cannot select a benefit for your partner that is higher than your own. • Your children are automatically covered free of charge from age 6 months up to age 18 provided they are unmarried. Benefits are based on 25% of your cover, subject to a maximum of £20,000. • Payment of any Critical Illness benefit will be subject to the survival of the person covered for a period of at least 14 days from the earlier of date of diagnosis or operation. • Pre-existing and related conditions are not covered under this policy. A new preexisting and related conditions exclusion will apply to each increase in cover. • A specific definition of partner applies to this benefit. 10

PROTECTION

Dependant’s Benefit

Gadget Insurance

• As a member of the J.P. Morgan UK Pension Plan, your dependants have an entitlement to a death-in-service pension should you die whilst in service.

• Gadget insurance is a cost effective way to protect an unlimited number of your handheld gadgets, including laptops, smart phones and tablets. The cover provides worldwide protection against theft, malicious damage, accidental loss, fraudulent call use, breakdown (not including laptops) and accidental damage (including liquid damage and cracked screens).

• A pension of 25% of your pensionable salary would be payable as a monthly income to a surviving spouse or partner (in accordance with the rules of the Plan). • Additionally, your children would be provided with a pension in line with the following percentages, up to the age 18 (or 23 if in full time education): −− For one dependent child, a pension of 12.5% of your pensionable salary would be payable. −− For up to three additional children, a pension equal to 6.25% of your pensionable salary would be payable per child. • The spouse’s pension is payable for life (there is no fixed period of payment) and will increase annually in line with the insured rate. • If you have opted out of, and then rejoined, the Pension Plan you will not be eligible for the Dependant’s Benefit.

ELEMENTS > My Benefits > Dependant’s Benefit Helpdesk 020 7134 0606, option 3

ELEMENTS > My Benefits > Gadget Insurance Provider Crispin Speers & Partners Helpdesk 0207 977 9381 Claims Line 01788 566141

• Gadget Insurance provides you with annual worldwide cover and a choice of two levels of cover • Handheld gadgets insured include: MP3 Players, iPods, DVD Players, iPads, Hand Held Games Consoles, Digital Cameras, Video Cameras, Mobile Phones, Smart Phones, iPhones, PDAs, Laptops, Tablets, Bluetooth Headsets, Satellite Navigation Devices, E-Readers, Camera Lenses, InCar Computers, Head / Ear Phones. • This benefit provides insurance for you and your immediate family who permanently reside at your address. Your children’s gadgets are covered provided they are aged under 18 at the start date of your cover. • Your gadgets are covered both when in the UK and whilst travelling abroad.

11

PROTECTION

Income Protection

Life Assurance

• J.P. Morgan offers Income Protection cover which provides a regular income should you be unable to work as a result of long-term illness or injury, on acceptance of your claim by the insurer. This cover will commence once you have completed two years’ continuous service with J.P. Morgan, provided that you are actively at work on that date.

• J.P. Morgan provides you with Core Life Assurance of four times your pensionable salary.

• If you have been unable to work your contractual hours as a result of illness for 26 weeks, discretionary company sick pay will end and your usual base salary will no longer be payable. At the discretion of the insurer you may be eligible to receive up to 65% of your Reference Salary until: −− You return to work; −− You no longer satisfy the medical definition for payment of benefit; −− You reach your State Pension Age; −− You leave service; −− Your death.

ELEMENTS > My Benefits > Income Protection Helpdesk 020 7134 0606, option 0

• If you leave J.P. Morgan, your cover will cease on your last day of employment. • You will be expected to give consent for the insurers to review medical information and, on request, undergo any medical examinations, both in respect of the provision of cover and payment of any claim. You will be notified if you need to provide medical information and, based on the medical evidence, the insurer may restrict the level of benefit to a maximum amount each year and/or may impose exclusions for certain conditions. • If you do not provide the requested medical information, the insurer will restrict your benefit entitlement to their policy limit or any level that has been previously accepted for you specifically. Payments under the scheme are governed by the appropriate insurance policies. • The maximum salary insured for the purposes of Income Protection is £275,000.

ELEMENTS > My Benefits > Life Assurance Helpdesk 020 7134 0606, option 0

• If you leave J.P. Morgan, your cover will cease on your last day of employment. • This benefit is fully insured and you may have to provide the insurer with medical information. Should your total benefit exceed the free cover limit then you will need to undergo medical underwriting. • Based on the medical evidence, the insurer may restrict the benefit entitlement to a maximum amount or may impose exclusions. • The Life Assurance lump sum is normally paid free of Inheritance Tax, provided the Trustee of the Plan exercises discretion in relation to who receives this benefit. • Therefore, you must complete a Nomination of Beneficiaries form so that the Trustee can consider your wishes in the event of your death. You can complete the Nomination of Beneficiaries form online via [email protected] > My Pension > My Beneficiaries. You should make sure you keep this up to date. (For information, if you select Life Assurance – Additional you will also need to complete a separate Nomination of Beneficiaries form for that benefit.)

12

PROTECTION

Life Assurance Additional

Life Assurance – Partner

• In addition to your Core Life Assurance, you also have the option to purchase additional cover via the Life Assurance – Additional benefit.

• Life Assurance – Partner benefit provides a tax-free lump sum payment to your partner’s beneficiaries in the event of your partner’s death up to age 75.

• This year the maximum cover level for this benefit has increased to £500,000. Cover is available in multiples of £25,000. • This benefit is medically underwritten. You are required to complete an Application Form if you are selecting this benefit for the first time or increasing your cover as part of the underwriting process. In these circumstances, the insurer will provide temporary restricted cover for a period of 120 days. • The cost of this benefit is based on both your age and the level of cover you select. • The policy is written under a discretionary trust which may mean that your beneficiaries are not subject to UK inheritance tax on the lump sum paid.

ELEMENTS > My Benefits > Life Assurance Additional Provider Canada Life Helpdesk 020 7134 0606, option 4 Forms to complete: 1. Application Form (download from ELEMENTS) 2. Nomination of Beneficiaries Form (download from ELEMENTS) You will not need to complete forms if you are keeping your current level of cover.

• This year the maximum cover level for this benefit has increased to £500,000. Cover is available in multiples of £25,000. • This benefit is medically underwritten. Your partner is required to complete an Application Form if you are selecting this benefit for the first time or increasing your partner’s cover as part of the underwriting process. In these circumstances, the insurer will provide temporary restricted cover for a period of 120 days. • If your partner is keeping their current level of cover, they will not have to complete any new forms.

ELEMENTS > My Benefits > Life Assurance – Partner Provider Canada Life Helpdesk 020 7134 0606, option 4 Forms to complete: 1. Application Form (download from ELEMENTS) 2. Nomination of Beneficiaries Form (download from ELEMENTS)

• The policy is written under a discretionary trust which may mean that your partner’s beneficiaries are not subject to UK inheritance tax on the lump sum paid. • A specific definition of partner applies to this benefit. Full details can be found on the ELEMENTS website.

• The cost of this benefit is based on both your partner’s age and the level of cover selected. • If both you and your partner are employees of J.P. Morgan, you will not be able to select Life Assurance – Partner. Your partner must select their own additional cover via the Life Assurance – Additional benefit.

13

PROTECTION

Personal Accident Insurance

Travel Insurance

• Personal Accident Insurance provides you with a cash lump sum payment if you are injured as a result of an accident. The payment is intended to help you cope with the consequences of the injury. The benefit also includes coverage for Permanent and Total Disability or death as a result of an accident.

• This benefit provides Travel Insurance for personal holidays overseas and pre-booked accommodation in the UK. Business travel is not covered under this policy.

• You can choose to cover: yourself, you and your partner, you and your children, or you and your family. • This cover is available in units of £25,000 up to a maximum of £250,000. Each unit provides an amount of cover for particular incidents with some conditions attracting a proportion of these amounts. • Children’s cover is restricted to 50% of adult cover and additional restrictions may apply. Children’s Death Benefit is limited to £7,500 regardless of the number of units. • To be covered, children must be aged under 18 years or under 23 years, if in full time education, and unmarried.

ELEMENTS > My Benefits > Personal Accident Insurance Provider ACE European Group Limited Helpdesk 01293 726060

• You can choose to cover: yourself, you and your partner, you and your children, or you and your family.

ELEMENTS > My Benefits > Travel Insurance Provider Crispin Speers & Partners Helpdesk 020 7977 9380 Website [email protected]

• Your partner and your children are also covered whilst travelling independently. • You must be a UK resident and have a UK address to be covered by this policy. • There is no limit to the number of trips you make, provided each trip lasts no longer than 60 days. • You can choose either European or Worldwide cover, with or without winter sports coverage. • Excess is £40 with effect from 1 April 2016 (previously £50) • You have access to a 24 hour emergency medical assistance Helpdesk on 01992 444 337. • There have been a number of changes and enhancements to the cover provided under this benefit, and these will be detailed in pdf on the ELEMENTS website.

14

PROTECTION

Will Writing • You can select either the Standard or Advanced service for you or you and your partner. • The Standard service includes: appointment of Executors, Trustees, Guardians, the distribution of your estate through the provision of legacies and residual gifts, simple trusts for minor children, funeral requests and generic Inheritance Tax advice.

ELEMENTS > My Benefits > Will Writing Provider James McKenzie Helpdesk 020 7193 2060

• The Advanced options include all elements of the Standard options but with the inclusion of more in-depth trusts giving you greater control over what happens to your assets after your death. • You will be contacted by James McKenzie to arrange a suitable time to discuss your Will. This will either be a visit to your office, a confidential phone call, or a home visit should you select the Advanced service. • Visit www.james-mckenzie.co.uk for full details.

15

HEALTH

Be Wise Looking after your health and wellbeing Health . . . . . . . . . . . . . . . . . 16 Dental Insurance . . . . . . . . . . . . 16 GymFlex . . . . . . . . . . . . . . . . . 16 Healthcare – UK Plan . . . . . . . . . . 17 Healthcare – Premier Plan . . . . . . . 17 Healthcare – Premier Plus Plan . . . . 18 Health Screening . . . . . . . . . . . . 18 Health Screening – Partner . . . . . . 19 Onsite Fitness Centre . . . . . . . . . . 19 Optical Insurance . . . . . . . . . . . 20 Private GP Service . . . . . . . . . . . 20 Health Extra . . . . . . . . . . . . . . Dental Discounts . . . . . . . . . . . . Eye Care Vouchers . . . . . . . . . . . Flu Vaccinations . . . . . . . . . . . . Incorpore . . . . . . . . . . . . . . . . Onsite Private GP . . . . . . . . . . . . Physiotherapist . . . . . . . . . . . . . Practice Nurse . . . . . . . . . . . . .

21 21 21 21 21 21 21 21

16

HEALTH

Dental Insurance

GymFlex

• The Dental Insurance benefit offers you five flexible dental plans that suit your dental needs and allow you to visit the dentist of your choice, whether a Denplan, private or NHS dentist.

This benefit is available at Annual Enrolment for 12 month memberships only and during a mid-year enrolment (September) for 6 month memberships.

• You can choose to cover: yourself, you and your partner, you and your children, or you and your family. • If you choose Essential or Extensive, Including the ‘Plus’ levels Dental Cover, for yourself or your partner, you will receive free Key Dental Cover for your children. • Dental Insurance will cater for occasions when you may experience a dental accident or emergency, as well as the provision of your regular dental care. • The cover excludes certain services, including treatment that is already underway or prescribed when first joining the plan, and there is a waiting period for oral cancer cover and implant cover. • Dental implant insurance is included at no extra cost.

ELEMENTS > My Benefits > Dental Insurance Provider Denplan Ltd Helpdesk 0800 838 951 Website www.denplan.co.uk Claims process To submit a claim the recipient can either: – visit the website www.denplan.co.uk/ employeeonline and follow the instructions – complete a claim form and submit this to Denplan at the address detailed on the form.

• GymFlex offers you a discount on many major chains, leisure centres and independent gyms. Membership options vary and may include peak and off-peak rates or reciprocal arrangements that allow you to use multiple health clubs within the chain. • If you chose this benefit last year, and wish to continue with your gym membership, you must reselect it. • You will be able to view participating clubs in your area by going on to the GymFlex website. Once you have chosen a gym on the GymFlex website your will receive an email which will confirm your selection and provide your personal identification to be presented at your health club. • The cost of your chosen gym will be automatically transferred to your enrolment form in the My Benefits section of the ELEMENTS website. • J.P. Morgan pay for your 6 or 12 month membership and you repay J.P. Morgan in either 6 or 12 equal instalments. You are unable to cancel this arrangement even if you leave J.P. Morgan during the Benefits Year. Any outstanding balance will be deducted from your final net salary payment.

ELEMENTS > My Benefits > GymFlex Provider Incorpore Helpdesk 0345 300 6474 Website www.gymflex.co.uk Company Login JPMC

• If you are an existing member at a participating health club part way through a fixed term contract, provided you are currently paying by Direct Debit, it may be possible to swap over immediately to the GymFlex rate without penalty. Even if they are in a fixed term contract, it may still be possible to transfer the membership. This will be highlighted on the GymFlex website at www.gymflex.co.uk. If you are a member, simply select ‘existing member’ during the GymFlex registration process, enter your current health club membership number when prompted. You do not need to contact the club. • If the club you wish to join is not available, please contact GymFlex and they will make every effort to agree a rate.

17

HEALTH

Healthcare - UK Plan

Healthcare - Premier Plan

• J.P. Morgan pays the cost of your Core Private Healthcare cover (including cover for eligible dependants). However, you will pay tax on the value of the benefit which is deducted from your salary through payroll.

• You receive Private Healthcare cover as part of your Core benefits. However, you can choose to opt out of this Core cover and, for an extra cost, upgrade to the Healthcare – Premier Plan, which provides additional cover both in the UK and worldwide (excluding USA) for you and your family.

• A benefit limitation (excess) of £100 is payable for each person claiming under the plan during any rolling 12-month period. • You can choose to cover: yourself, you and your partner, you and your children, or you and your family. • Cover under this benefit includes outpatient, day-patient and in-patient. • Pre-existing conditions are covered subject to plan rules. • Conditions deemed to be chronic are not covered. • You must pre-authorise all treatment by contacting AXA PPP Healthcare. • A comparison of the level of cover provided under the three Healthcare benefit options can be found on the ELEMENTS website.

ELEMENTS > My Benefits > Healthcare – UK Plan Provider AXA PPP Healthcare Helpdesk 0800 132 594

• The cost you pay for this benefit will be offset by the value of your Core Healthcare – UK Plan cover entitlement. However, you will pay tax on the full value of this benefit and this is deducted from your salary through payroll. • You can choose to cover: yourself, you and your partner, you and your children, or you and your family.

ELEMENTS > My Benefits > Healthcare – Premier Plan Provider AXA PPP International Helpdesk 0044 1892 556107

• This plan covers the cost of emergency inpatient and day patient treatment outside the area of cover for up to 10 weeks, with a limit of £100,000 in any Benefits Year. • A comparison of the level of cover provided under the three Healthcare benefit options can be found on the ELEMENTS website.

• This benefit covers you for acute and chronic conditions, private GP fees, prescription drugs, chiropractic treatment, osteopathy, homeopathy and acupuncture, nursing at home and rehabilitation treatment with treatment available worldwide (excluding USA), subject to the plan rules. Full details are available on the ELEMENTS website. • Pre-existing medical conditions are covered. • You must obtain pre-authorisation for treatment from AXA PPP International.

18

HEALTH

Healthcare – Premier Plus Plan

Health Screening

• You receive Private Healthcare cover as part of your Core benefits. However, you can choose to opt out of this Core cover and, for an extra cost, upgrade to the Healthcare – Premier Plus Plan, which provides additional cover both in the UK and worldwide for you and your family.

• Designed for the early detection and prevention of health problems, these sessions provide an in-depth and personal profile of your health, fitness and general wellbeing.

• The cost you pay for this benefit will be offset by the value of your Core Healthcare – UK Plan cover entitlement, however you will pay tax on the full value of this benefit and this is deducted from your salary through payroll. • You can choose to cover: yourself, you and your partner, you and your children, or you and your family. • This benefit covers you for acute and chronic conditions, private GP fees, prescription drugs, routine maternity care (on a co-pay basis), nursing at home and rehabilitation with treatment available worldwide, subject to the plan rules. Full details are available on the ELEMENTS website. • Pre-existing medical conditions are covered. • You must obtain pre-authorisation for treatment from AXA PPP International. • A comparison of the level of cover provided under the three Healthcare benefit options can be found on the ELEMENTS website.

ELEMENTS > My Benefits > Healthcare – Premier Plus Plan Provider AXA PPP International Helpdesk 0044 1892 556107

• To book your Health Screening, you must contact Nuffield on 08452 30 20 40. • There are three levels of Health Screening available: Lifestyle, 360 and 360+. As a Core benefit you are entitled to the following: Age

Health screen

39 or under

Biennial J.P. Morgan funded Lifestyle Screening

40 to 49

Biennial J.P. Morgan funded 360 Screening (with resting EGC and a mammogram for females)

50 or over

Annual J.P. Morgan funded 360+ Screening (with resting EGC or aerobic fitness test and a mammogram for females)

ELEMENTS > My Benefits > Health Screening Provider Nuffield Health Helpdesk 08452 30 20 40 Website http://www.nuffieldhealth.com/healthassessments

• The assessments available do contain some tests that are tailored to gender and age. For example, mammograms are not considered clinically necessary for those under the age of 40. • If you were entitled to a Core Health Screening in the 2015-16 Benefits Year and you do not take it, you will automatically be opted in for a Health Screen in the 2016-17 Benefits Year.

• If you are age 49 or under and would like a Health Screen in the year in which you are not eligible for a J.P. Morgan paid screen, you can purchase a screen through flex and you will not pay income tax or National Insurance Contributions on the cost.

19

HEALTH

Health Screening – Partner

Onsite Fitness Centre

• Designed for the early detection and prevention of health problems, these sessions provide an in-depth and personal profile of your partner’s health, fitness and general wellbeing.

• Memberships will typically be for 12 months unless you are eligible to join during the Benefits Year, i.e. new joiners, in which case your membership will be until 31 Match 2017.

• If you choose to purchase a Health Screen for your partner, you have the choice of three Health Screening options: Lifestyle, 360 and 360+. • If your partner is over age 40 and you select a 360 or 360+ Health Screen, you can also opt to pay for a mammogram for females. The partner Health Screens available do contain some tests that are tailored to gender.

ELEMENTS > My Benefits > Health Screening – Partner Provider Nuffield Health Helpdesk 08452 30 20 40 Website http://www.nuffieldhealth.com/healthassessments

• If you selected this benefit last year, your membership will automatically renew unless you deselect it during Annual Enrolment. • Membership of the centre at Bank Street is available to employees only. • Members will also be able to select an upgrade (‘Top Up’) to a Nuffield Health “connections” membership which allows access to all other gyms in the Nuffield Health Network.

ELEMENTS > My Benefits > Onsite Fitness Centre Provider Nuffield Health Bank Street J.P. Morgan Fitness and Wellbeing Centre Bank Street (7th Floor) Helpdesk Email: [email protected] Tel: 020 7134 9777 Website http://jpmorgan.mynuffieldhealth.info

• In the event that the gym membership capacity is oversubscribed, a waiting list will be operated.

20

HEALTH

Optical Insurance

Private GP Service

• The Optical Insurance benefit offers you five options that suit your vision needs and allows you to visit the optician of your choice. You choose an annual allowance of £100, £200, £300, £400 or £500.

• Private GP services are for acute (short term), non-emergency care and are not suitable for chronic (long term/recurring) conditions. This service is not intended to replace your NHS GP; it should be considered a complimentary service and you may be referred back to your NHS GP for chronic conditions.

Provider VSP Website http://vsp-uk.co.uk

• You can choose to cover: yourself, you and your partner, you and your children, or you and your family. • If you choose to visit a VSP network Optician you receive additional discounts including 20% discount on examinations, frames and lenses. • The cover includes: −− Eye examinations are covered in full up to allowance −− Frames and lenses, including glass or plastic, single vision, lined bifocal, or lined trifocal prescription lenses, covered in full up to the allowance −− Allowances may be used toward contact lenses, sports eyewear, prescription sunglasses, or laser vision surgery −− No excesses or waiting periods to qualify for benefits, nor limitations to cover if you already need glasses, contact lenses, or have an ongoing medical condition

• If you use a VSP network optician then they will provide the claim for you. For other opticians simply get an itemised receipt and follow the claims procedure detailed on the website

• Employees can select and purchase access to the Private GP for themselves or for themselves and their partner. There is no limit to the number of consultations for each person covered. • The 15 minute consultations may include: minor sickness and ailments, private prescriptions, family planning services, help and advice / specialist help, cervical smears, ear syringing, HPV vaccinations, radiology, nutritional advice, exercise referral, minor surgical procedures and travel vaccinations. Additional charges will apply for travel vaccinations and pathology tests.

Provider Nuffield Health Appointments 0300 123 1982 (Option 1)

London • Canary Wharf • City • Moorgate • Paddington • West End Nationally • Aberdeen • Bournemouth • Bristol • Edinburgh • Glasgow • Manchester • Nottingham

• You can attend an appointment at either the Bank Street Medical Centre (employees only) or the following Nuffield Health locations:

21

HEALTH EXTRA

Dental Discounts

• Barbican Dental have a number of practices in London, including Moorgate, Canary Wharf and the West End, and offer you and your family 10% off routine dental appointments and 25% off home teeth whitening. • Please quote ‘J.P.Morgan’ when booking an appointment to take advantage of the discount which can be used in conjunction with Denplan membership. • The Queens Park Dental team are a small group of dental professionals just a short distance from our Bournemouth

Employee Assistance & WorkLife Programme – UK

• The Employee Assistance Programme (EAP) is a professional counselling, consultation and referral service to help you, your partner and your dependants with issues related to: −− Life challenges: Issues related to family conflict, parenting, maternity coaching, work-related conflicts, financial stress and traumatic loss −− Emotional health: Help with depression, anxiety, difficulty

office who provide private general and cosmetic dentistry for both adults and children, including teeth whitening, teeth straightening, white fillings, bridges, crowns, veneers and root fillings. They have early morning and evening appointments available. • J.P. Morgan employees will receive a 10% discount on the cost of their treatment and 15% for those employees who have opted for dental cover with Denplan via the Elements

controlling anger, alcohol or drug abuse, and grief −− Legal and financial issues: Help finding legal and financial information and consultation

London Barbican Dental

www.barbicandentalcare.com

Bournemouth Queens Park Dental

http://www.queensparkdental.co.uk/

Optum International

http://www.ppconlineinfo.com/public/ welcome.asp Username and Password: jpmuk

−− Referrals: Help finding childcare facilities, elder care services and physical health and wellness resources −− Resources: Assistance in finding general community resources to support other family needs

Eye Care Vouchers

• The Eye Care Voucher scheme entitles J.P. Morgan permanent employees to a sight test voucher every twelve months, plus one spectacles voucher, subject to conditions.

Flu Vaccinations

• On an annual basis, J.P. Morgan provides you with the opportunity to have a free flu jab.

Incorpore

• This benefit is provided by Incorpore who are part of the same group that provide us with GymFlex. It gives employees who either didn’t select GymFlex during our Flexible Benefits enrolment, or who join the firm during the year, the opportunity to take advantage of gym discounts until GymFlex is available to them again at the next enrolment.

Incorpore

• This service is available to all employees and consultants, and is provided at a discounted rate, currently £45 per 15 minute appointment.

Nuffield Health

Onsite Private GP

To request a voucher go to the intranet: [email protected] jpmc > Health & Life > UK Eye Care Vouchers

• Details of the programme and booking instructions are usually available in October. In the meantime, if you require any further information, please contact 020 7134 0606, option 0.

Company Reference: JPMC

• If you selected the Premier Plus healthcare benefit via ELEMENTS, your appointment fee may be covered. Please contact AXA PPP International on + 44 1892 556107 to check to see if you will be reimbursed.

Physiotherapist

• J.P. Morgan offers the service of a physiotherapist at both the Bank Street and Bournemouth. This service is available to all employees and consultants.

• The Practice Nurse can be consulted as a point of reference for general health information and provides services such as basic health checks including cholesterol checking, business travel vaccinations and referrals for physiotherapy. • This service is available to all employees and consultants.

Bank Street Medical Centre, Bank Street (7th Floor) Email: [email protected] Tel: 020 7134 9787

London Nuffield Health

Bank Street Medical Centre, Bank Street (7th Floor) Email: [email protected] Tel: 020 7134 9787

Bournemouth BWT Physiotherapy

Chaseside Atrium Tel: 01202 749514

Nuffield

Bank Street Medical Centre, Bank Street (7th Floor) Email: [email protected] nuffieldhealth.com Tel: 020 7134 9787

• Prices for an initial consultation may vary from that of follow-up appointments. Please call the numbers shown for further information.

Practice Nurse

Tel: 0845 6024601 www.incorpore.co.uk

Bournemouth Littledown House Email: [email protected] nuffieldhealth.com Tel: 020 7134 9787

22

PARENTAL

Be Prepared Benefits for your parents Parental . . . . . . . . . . . . . . . . . . 24 Critical Illness Insurance for your Parents 24 Dental Insurance for your Parents . . . . 24 Family Homecare . . . . . . . . . . . . . 25 Health Screening for your Parents . . . . 25 Optical Insurance for Parents . . . . . . . 26

23

PARENTAL

Critical Illness Insurance for your Parents

Dental Insurance for your Parents

• Critical Illness Insurance pays out a lump sum if an insured parent is diagnosed as suffering from certain serious illnesses which are covered under this policy.

Under this Dental Insurance policy you can choose between five levels of cover for up to four parents: Key, Essential, Essential Plus, Extensive and Extensive Plus. Through the Denplan arrangement they can access a dentist of their choice, whether a Denplan, private or NHS dentist

• You can choose to cover for yours and your partner’s parents. • You can choose cover for your parent(s) up to age 70. However, restrictions do apply to Permanent Total Disability and Terminal Illness. • Cover is available in units of £25,000 up to a maximum of £250,000. You cannot select a benefit for your parent that is higher than your own. • Payment of any Critical Illness benefit will be subject to the survival of the person covered for a period of at least 14 days from the earlier of date of diagnosis or operation. • Pre-existing and related conditions are not covered under this policy. • A specific definition of parent applies to this benefit.

ELEMENTS > My Benefits > Critical Illness Insurance Provider Legal & General Helpdesk 020 7134 0606, option 0

Provider Denplan Ltd Helpdesk 0800 838 951 Website www.denplan.co.uk/employeeonline

• Dental Insurance will cater for occasions when you may experience a dental accident or emergency, as well as the provision of your regular dental care. • The cover excludes certain services, including treatment that is already underway or prescribed when first joining the plan, and there is a waiting period for oral cancer cover and implants. • Dental implant insurance is included at no extra cost. • You pay tax, but not National Insurance Contributions, on the taxable value of this benefit dependent on the level of cover you choose. • Please note: You must add the parents you want to cover to your dependants on the ELEMENTS website before you will be able to select this benefit.

24

PARENTAL

Family Homecare

Health Screening for your Parents

Family Homecare provides you with the opportunity to cover yourself, your partner and both sets of parents for up to 12 weeks homecare, depending upon the level of cover selected, should an unforeseen accident/illness happen resulting in hospitalisation.

Designed for the early detection and prevention of health problems, these sessions provide an in-depth and personal profile of health, fitness and general wellbeing. They are available for you to buy for up to four parents (this can include your partner’s parents or a partner of a parent)

• In these circumstances you will be provided with the following services: personal assistance, help getting dressed, domestic assistance/ household duties, ironing and laundry, preparation of meals, assistance getting in and out of bed, travel home from hospital, weekly agreed care plan and shopping. • Assistance is provided by a comprehensive homecare provider network with fully trained, experienced and professional care staff. • There is no maximum age limit for parents covered. • Underwriting is completed at the time of a claim and all pre-existing conditions are covered as long as they are under control. The key point of this benefit is that it covers unexpected events i.e. not pre-planned operations.

Provider Allianz Global Assistance Helpdesk 020 8666 0629

Provider Nuffield Health Helpdesk 08452 30 20 40 Website http://www.nuffieldhealth.com/healthassessments

• There is no company funding for this benefit. • There are two levels of Health Screening available: 360 and 360+ which are tailored to gender. • Should you leave J.P. Morgan during the Benefits Year, the outstanding cost of this benefit will be taken from your final net salary payment, whether or not your parent(s) has/have taken their Screening(s). Your parent(s) will still be able to take the Screening before the end of the Benefits Year if they have not taken it at the point you leave J.P. Morgan. • Please note: You must add the parents you want to cover to your dependants on the ELEMENTS website before you will be able to select this benefit

• You pay tax, but not National Insurance Contributions, on the taxable value of this benefit which will depend on the level of cover you choose.

25

PARENTAL

Optical Insurance for your Parents The Optical Insurance for your Parents benefit offers you five options to suit the vision needs of your parents and allows them to visit the optician of their choice. You choose an annual allowance of £100, £200, £300, £400 or £500. • You can choose to cover your parents, your parents in law and their legal partners. • If they choose to visit a VSP network Optician they will receive a 20% discount on eye examinations, frames and lenses.

Provider VSP Website http://vsp-uk.co.uk

• If they use a VSP network optician then they will process the claim for them. For other opticians simply get an itemised receipt and follow the claims procedure detailed on the website

• The cover includes: −− Eye examinations are covered in full up to allowance −− Frames and lenses, including glass or plastic, single vision, lined bifocal, or lined trifocal prescription lenses, plus VDU software, covered in full up to the allowance −− Allowances may be used toward contact lenses, sports eyewear, prescription sunglasses, or laser vision surgery −− No excesses or waiting periods to qualify for benefits, nor limitations to cover if they already need glasses, contact lenses, or have an ongoing medical condition

26

LIFESTYLE

Enjoy Life Getting the most out of your free time Lifestyle . . . . . . . . . . . . . . . . Bicycles . . . . . . . . . . . . . . . . . Childcare Vouchers . . . . . . . . . . Restaurant Discount Card . . . . . . . Retail Discount Card . . . . . . . . . .

26 26 27 28 29

Lifestyle Extra . . . . . . . . . . . . 30 Back-up Childcare . . . . . . . . . . . 30 Discount and Concierge Service . . . 30

27

LIFESTYLE

Bicycles This benefit is only available during Annual Enrolment • You have access to a Cycle to Work scheme offering a tax-efficient way of leasing a bicycle. • You pay the monthly lease cost of the bicycle over a 12 month period, free of Income tax and National Insurance Contributions. If you selected this benefit during the 2014 Annual Enrolments you will not be able to select this benefit this year. • There are tax advantages for taking up this benefit, provided that the bicycle and/or equipment is used mainly for journeys to and from work. However, you do not need to keep mileage records. • Visit your local partner shop to choose your bicycle and any safety equipment you require. You will be given a paper quote for your chosen bicycle and equipment. You can locate your nearest partner shop at www.cyclescheme.co.uk using the search facility.

ELEMENTS > My Benefits > Bicycles Provider Cyclescheme Contact Centre 0844 879 5101 Website www.cyclescheme.co.uk

• Choose an amount from £100 to £1,000 that is closest to the paper quote you were given in the shop from the amounts displayed. This amount must be equal to, or more than, the actual cost of the bicycle and any associated equipment (including safety helmets, lights and reflective clothing). • Shortly after Annual Enrolment closes, you will receive an email from Cyclescheme instructing you to complete your Hire Agreement on their website. Upon completion of the Hire Agreement an e-certificate will be sent to your work email address.

• Your voucher must be exchanged for a bicycle and any related safety equipment at your local partner shop within four months of receipt. You may be asked to provide photographic ID when collecting your bicycle and associated equipment. • If you select this benefit, you will need to arrange your own insurance and must advise the insurer that J.P. Morgan has an interest. • Cyclescheme have partnered with Cycleguard to provide cyclists with an insurance policy which covers amongst other things, the theft of a bicycle, accidental damage, personal accident and public liability. The policy offers the option for coverage in the UK and overseas and you may cover up to 3 bicycles under the policy. To obtain a quotation go to www.cycleguard.co.uk/cs.

• At the end of the 12 month lease period ownership of the bicycle and safety equipment will be transferred to Cyclescheme and you will receive a written explanation from them of the options available to you.

28

LIFESTYLE

Childcare Vouchers • Childcare Vouchers are an ideal way of meeting some of your childcare costs in a tax efficient way. On selecting this benefit, you will be given access to the electronic ‘care-4’ childcare voucher scheme, enabling you to make payments directly to your childcare provider through an electronic account which you have to set up on the care-4 website. • The maximum amount of vouchers you can select is £243 per month (£2,916 per year) for the 2016/2017 Benefits Year. • Your selected monthly voucher amount will be credited to your care-4 account on or shortly after pay day. • Your childcare provider must be ‘registered’ or ‘approved’ childminders, nurseries and after school clubs, and you will need to add their contact and bank account details to your care-4 account. • The care-4 website provides more information as to what types of childcare are considered to be ‘registered’ or ‘approved’. The website also explains what you need to do if your current childcare provider is not approved for these purposes.

ELEMENTS > My Benefits > Childcare Vouchers Provider care-4 by Grass Roots Group Helpdesk 0844 800 1444 Website www.care-4.co.uk

• Once you have registered your childcare provider’s details, and your first payroll deduction has been credited to your care-4 account, you then just need to agree a date for payment to be made to your carer’s bank account. • To authorise payment to your carer’s bank account, visit www.care-4.co.uk or telephone 0844 800 1444. If you make regular payments to your carer, you can set up scheduled payments to be made on a monthly basis when you join the scheme. • You must be the parent, or step parent, of the child in order to purchase childcare vouchers and receive the tax savings. • If you receive tax credits, your entitlement may be affected by selecting childcare vouchers and we would recommend that you consult your local tax office for guidance.

Tax and National Insurance Contributions • The amount of relief from tax and National Insurance Contributions depends on when you joined the scheme. • If you joined the scheme on or before 5 April 2011, you can select tax efficient childcare vouchers of up to a current maximum of £243 per month and you will receive marginal rate tax relief regardless of your tax rate. • If you joined the scheme from 6 April 2011, you can select up to £243 per month, but the level of tax saving you can make is based on your marginal tax rate. If you select the full £243 per month and are a higher or additional rate taxpayer, the tax on the additional value of childcare vouchers selected over the tax free limit will be collected through the payroll.

The current limits are outlined below. Taxpayer

Maximum voucher amount per month

Level of tax saving based on your marginal tax rate

Basic rate taxpayer (20%)

£243 per month

£55 per week (max £243 per month)

Higher rate taxpayer (40%)

£243 per month

£28 per week (max £124 per month)

Additional rate taxpayer (45%)

£243 per month

£25 per week (max £110 per month)

29

LIFESTYLE

Restaurant Discount Cards This benefit is only available at Annual Enrolment • The Gourmet Society have joined forces with tastecard which gives combined access to discounts at over 10,000 restaurants. • Discounts are available nationwide and range from award-winning eateries to quality independents to popular chains. Discounts vary and can include 2 for 1 offers and either 25% or 50% discount off the total bill. • To view participating restaurants, please visit www.tastecard.co.uk/yourbenefit and www.gourmetsociety.co.uk/ yourbenefit • Annual subscription to the Gourmet Society usually costs £69.95 and £79.99 for tastecard, but, if selected, you will only pay £25 for each. • You can purchase up to a maximum of 4 cards. • Full payment for this benefit will be taken from your April net pay and is not deducted monthly over the Benefits Year. • If selected, you will receive a membership card and booklet highlighting all of the restaurants covered and the offers available.

ELEMENTS > My Benefits > Restaurant Discount Card Provider Gourmet Society tastecard Website www.gourmetsociety.co.uk/yourbenefit www.tastecard.co.uk/yourbenefit

• Advanced bookings may be required at some restaurants. Restrictions may apply and individual restaurant discounts may vary. Offers are not available in conjunction with any other promotion or offer. • Both Gourmet Society and tastecard offer smartphone apps and Plus products: GS Plus − Up to 40% off cinema tickets − Up to 50% off airport lounge entry − Up to 50% off days out − Up to 50% off comedy and theatre tickets tastecard+ − Up to 40% off cinema tickets − Up to 50% off fine dining − Up to 50% off days out − Up to 60% off entertainment tickets − Up to 70% off or 2 for 1 on hotel stays

30

LIFESTYLE

Retail Discount Card • The Retail Discount Card is a pre-paid Mastercard debit card with the added benefit of getting a percentage rebate on all purchases from a range of high street retailers, including: ASDA, Boots, Debenhams, House of Fraser, John Lewis (excluding Waitrose), Marks & Spencer (excluding BP Connect), Toys “R” Us and WHSmith. A full list of the participating stores can be found on the ELEMENTS website, together with the respective rebate rates. • You decide on the monthly deduction from your salary – minimum £25 to a maximum £1,000. The maximum value you can have on your card at any one time is £5,000. • You will be issued with a personal debit card, which you will need to activate before you can start spending on your card. An email will be sent to you advising you of the activation process.

ELEMENTS > My Benefits > Retail Discount Card Provider Purecard by Grass Roots Group Helpdesk 0344 800 6435 Website www.purecard.com

• The rebate will be credited back onto your card within the first two weeks of the following month of spend. • An administration fee of 90p will be added to the monthly deduction that you select. For example if you select £100, you will have £100.90 deducted from salary. • You can also select a card for your partner at a cost of £7 via the Purecard website. This will allow your partner to access the funds on your account.

• The card operates as a pre-paid card, which means that you can spend only the available balance on your card at any time. • You will have a personal log-in for the Purecard website, from which you will be able to check your balance and your spend.

31

LIFESTYLE EXTRA

Back-up Childcare

• You have access to Bright Horizons Family Solutions, a national network of nurseries and play schemes, providing back-up childcare to help cover those days when your usual childcare arrangements are unavailable. • The back-up childcare programme runs from July to June each year. The first 10 days are free and you will pay a copayment for the second 10 days in each programme year.

Discount and Concierge Service

• You have access to an online lifestyle management and discount service, provided by Xexec, throughout the year. The website highlights hundreds of discounts and access to a wide range of services. • You can discuss your requirements by contacting the helpdesk on +44 (0) 208 201 6483 or you can email: [email protected]

• You will need to register online for the programme. You will then be able to make reservations up to four weeks in advance of the childcare needed. Once you are registered and wish to make a reservation you will need to contact Bright Horizons free phone on 0800 247 1101. • This scheme provides back-up childcare and is not designed to be used as the primary source of childcare.

• You can access Xexec from work or from home and purchases can be made online or over the telephone. Disclaimer: Please note that J.P. Morgan does not endorse, support or favour any supplier, service or product available to you through the Xexec website.

ELEMENTS > My Benefits > Back-up Childcare Provider: Bright Horizons Helpdesk: 0800 247 1101 Website: www.brighthorizons.com/advantage (username: JPMorgan / password: backup).

ELEMENTS > My Benefits > Xexec Provider: Xexec Helpdesk: +44 (0) 208 201 6483 Website: www.jpmorgan.xexec.com

Discounts The discounts are listed in the following categories: • • • • • • • • •

Automotive Financial & Professional Food & Entertainment Gifts Home & Garden Family & Kids Shopping Sport, Health & Beauty Travel

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Frequently Asked Questions What happens if I do not make selections by the deadline provided?

How do I make changes to my Flex benefits if I experience a Lifestyle Event?

With the exception of Childcare Vouchers and the Retail Discount Card (which you can now change on a monthly basis), you can only make changes to your ELEMENTS flexible benefits selections during Annual Enrolment (typically February/March), unless you experience a qualifying Lifestyle Event. Lifestyle Events include, but are not limited to:

For many of the most common Lifestyle Events (such as going on maternity or paternity leave or moving home) you will be able to self-select the appropriate event via the ELEMENTS website. Alternatively, you can contact 020 7134 0606, option 4, as soon as the Lifestyle Event happens. Please let the call handler know that you have had a Lifestyle Event and that you would like them to open your Enrolment Form. You must submit you revised benefit selections within 30 days of the Lifestyle Event being opened. For a full list of Lifestyle Events, and the changes you can make, please see the Lifestyle Event guide on the ELEMENTS website for more details.

• Gaining a dependant through marriage, Civil Partnership, co-habiting and birth or adoption of a child • Losing a dependant due to divorce, separation or death • Going on or returning from maternity or paternity leave • Major change in childcare arrangement • Moving home or office • Going on unpaid leave Please see the Lifestyle Event guide on the ELEMENTS website for a full list of events and details of the allowed changes to benefits.

What happens if I join J.P. Morgan after Annual Enrolment? If you join J.P. Morgan after Annual Enrolment, you will be sent an email from the benefit administrator (Vebnet), within two weeks of joining, inviting you to make your selections for the remainder of the 2016/17 Benefits Year. If you make any selections, you will be notified when your benefits will be effective from. If you do not make any selections, you will receive your Core benefits only. Please note that the Bicycle, Health Screening for your Parents, Health Screening – Partner and Restaurant Discount Card benefits can only be selected at Annual Enrolment. The GymFlex and Onsite Fitness Centre benefits are available during Annual Enrolment for 12 month memberships and during a Mid-year Enrolment (September) for 6 month memberships.

How do I make changes to my Flex pension contributions outside of Annual Enrolment? You are able to make changes to your Flex matched and employee Flex additional voluntary contributions on a quarterly basis. To make a change you simply need to contact 020 7134 0606, option 4 and request that your Enrolment Form is ‘opened’ for you to make a change to your Flex pension contributions. Once you have submitted your form, the change will take place from the next available payroll period.

What happens during a period of unpaid leave? With the exception of statutory and unpaid maternity leave (see separate FAQ), periods of unpaid leave will result in the following flexible benefits ceasing from the date you go on to unpaid leave: Pension contributions (personal and matching), ESPP Share Scheme, Childcare Vouchers, Dental Insurance (including Parental), Gadget Insurance, Family Homecare, Onsite Fitness Centre, Optical Insurance (including Parental), Personal Accident Insurance, Retail Discount Card and Travel Insurance. The following benefits will continue (the cost will accumulate and will be deducted as soon as you start to receive pay again): Bicycles, Critical Illness Insurance (including Parental), GymFlex, Health Screening – Employee, Partner and Parent, Life Assurance - Additional, Life Assurance - Partner, Private GP Service and Will Writing.

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Additionally, the Restaurant Discount Card benefit will continue until the end of the Benefits Year, because it will have been paid for by a one-off deduction in April. If you have selected either the Healthcare - Premier or Healthcare - Premier Plus benefits, at the point you go onto unpaid leave, this benefit will cease and you will automatically be transferred onto the UK Healthcare Plan at the same level, i.e. Employee only cover / Employee + Partner cover / Family Cover / Single Parent Cover. Please make alternative arrangements in respect of Dental Insurance (including Parental), Gadget Insurance, Optical Insurance (including Parental), Personal Accident Insurance and Travel Insurance for the duration of your unpaid leave, because these benefits cannot continue whilst you are not receiving a salary. With the exception of Pension contributions, all Core benefits remain in place during any periods of unpaid leave. These are; Accidental Death & Dismemberment (AD&D), Dependants’ Benefit, Health Screening, Income Protection, Life Assurance and UK Healthcare Plan. Upon return to work from unpaid leave, you will be contacted, via email, and advised that the Return from Unpaid Leave Lifestyle Event is available to you via the ELEMENTS website for you to make your revised benefit selections. This is the only way for you to reinstate your benefits and if you do not follow the instructions provided in this email your flexible benefits will remain inactive.

What happens during a period of Statutory and Unpaid Maternity Leave? All Core and Flex benefits that you have in place at the point you go on to maternity leave will continue, with the exception of the Retail Discount Card which will cease. Please note that as J.P. Morgan will cover the cost of your flexible benefits, with the exception of the Retail Discount Card, during this period the salary sacrifice arrangements cease to be legally effective. Tax on benefits is normally collected through your pay but, during this period, benefits will be reported on P11D forms to ensure that you pay the relevant tax.

What if I leave J.P. Morgan? The dates on which your flexible benefits cease vary – please refer to the relevant benefit section for further details. The outstanding balance of any benefits that you have selected will be deducted from your final salary payment. Payroll will contact you directly regarding repayment if there is a residual balance.

Do Flex benefits affect my employment contract? Yes, the flexible benefits you select at either Annual or Mid-year Enrolment or via a Lifestyle Event form an amendment to your contract.

What is Salary Sacrifice? If you select flexible benefits, your Gross Salary will be reduced by way of a salary sacrifice agreement. The salary sacrifice will equate to the cost of providing you with these benefits. The one exception is where you select the Restaurant Discount Card, the cost of which will instead be deducted from your Net Salary (after tax and NIC has been withheld). In the majority of cases, you will save on tax and/or National Insurance Contributions if you select flexible benefits. For each benefit there is an icon showing where there are tax and/ or National Insurance Contribution savings. There are some situations where a Salary Sacrifice arrangement will have an impact on certain State benefits such as Child Tax Credits, or on employees whose earnings are close to the Lower Earnings Limit. You should refer to the Childcare Vouchers page on the website and you should also check with your local tax office. As a result of participating in a Salary Sacrifice arrangement, you effectively pay less National Insurance Contributions. With effect from 6 April 2012, employees were contracted into the State Second Pension (‘S2P’). Therefore, if you earn less than £42,385, your S2P pension could be affected by any Salary Sacrifices you elect. As an example, if you earn below £42,385, for a £100 reduction in gross earnings you would lose approximately 20p a year in State pension. Please note, however, that as of April 2016, the Basic State Pension and S2P will be replaced by the Single-Tier State Pension. This could affect your state pension entitlement. We would recommend that you take further advice and/or contact the Government’s Pension Service as appropriate. Your Reference Salary will be used to determine pensionable salary which is then used to calculate pension contributions. Therefore, a Salary Sacrifice arrangement will not affect the amount J.P. Morgan contributes towards your pension. Generally, earnings would need to fall below the Lower Earnings Limit (LEL) in order to negatively affect your entitlement to State benefits. The LEL is £112 per week for both the 2015/16 and 2016/17 tax years. If you are in any doubt about sacrificing salary for benefits then you should consult an Independent Financial Advisor (IFA).

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How are the benefit costs calculated? The costs are set by the benefit providers and may, depending on the benefit, take into account a number of factors including your salary, age and medical circumstances amongst others.

What if J.P. Morgan make changes to the Benefits? J.P. Morgan reviews the benefits offered via the ELEMENTS flexible benefits plan annually and reserves the right to: • Change the benefits, options and costs offered; • Amend or withdraw benefits; • Change benefit providers; • Exclude you from selecting a benefit if the provider refuses to provide that benefit to you and/or your dependant(s); • Require you to abide by the provider’s rules and requirements for the provision of benefits once you have selected a benefit; • Discontinue any benefit should the take up be particularly low, or alter the rates of discounts offered, if applicable. In the event of the ELEMENTS plan terminating, or as a result of your participation in the plan ending for whatever reason, J.P. Morgan will, where applicable, provide you with the Core benefit offering and your take-home pay will be adjusted accordingly.

Who do I contact if I have any questions? For general questions please contact 020 7134 0606, option 4 or you can email [email protected] To speak directly to a provider, the provider contacts can be found on the ELEMENTS Information tab. Should you wish to provide feedback, please email [email protected]

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Glossary Annual Enrolment

Lifestyle Event

This is the time during which you make your benefit selections. Annual Enrolment takes place in February/March each year (if you joined J.P. Morgan after Annual Enrolment closed then you would have been advised separately of your New Joiner enrolment and therefore the deadline you need to submit your benefits by). With the exception of Pensions, you can only change your benefit selections outside of Annual Enrolment if you experience a qualifying Lifestyle Event or through the Mid-year Enrolment. If you join during the Benefits Year, you will be unable to select Bicycles, Restaurant Discount Card and GymFlex, which are limited to Annual Enrolment.

This is a significant change in your personal or family circumstances that may allow you to change some of your benefit selections.

Benefits Year

Parent

This is the period during which your benefit selections are effective. The Benefits Year runs from 1 April to 31 March. With the exception of flex pension contributions (which you can change once every three months), you can only change your selections during the Benefits Year if you experience a qualifying Lifestyle Event or through the Mid-year Enrolment.

Child Generally, this means your dependants over whom you and/or your partner are parents or legal guardians. For certain benefits, further provisions may apply, including age limits up to which children can be covered. If your child reaches an age limit then this may qualify as a Lifestyle Event.

Civil Partner

Mid-year Enrolment The Mid-year Enrolment take place in September and offers you the chance to select or amend a limited number of the benefits offered. Full details will be available when the enrolment opens.

This Is your father, mother, father in law, mother in law or their legal partners.

Partner This is your current spouse, Civil Partner or partner with whom you are co-habiting and with whom you are financially inter-dependent and with whom you are living together in a similar relationship as husband, wife or Civil Partner. For certain benefits, further provisions may apply. Changing your partnership status (for example co-habiting, getting married or divorced) may qualify as a Lifestyle Event.

Pensionable Salary This is your annual reference basic salary up to the Plan Earnings Cap (currently £141,000).

This means your Civil Partner from your current registered Civil Partnership.

Reference Salary

Flexible Benefits

This is the annual salary currently notified to you in your contract or pay review letter. It will not change as a result of your benefit selections and will continue to be used to calculate items such as Life Assurance cover and pension contributions.

These are the benefits you select in the My Benefits section of the ELEMENTS website. Flexible Benefits are highlighted to you as ‘Flex’.

Flex Salary Whilst your Reference Salary will not change because of your Flexible benefit selections, the amount you receive in your pay each month will change. This is known as your Flex Salary. Changing your benefit selections as a result of a qualifying Lifestyle Event may cause your Flex Salary to change.

Salary Sacrifice This means that you agree to give up part of your salary in return for an employee benefit. As a result, you can make National Insurance Contributions savings as well as benefit from certain tax advantages. The tax treatment varies from benefit to benefit and you should refer to each individual benefit description on the ELEMENTS website for more details on how each benefit is treated. 36

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