Annual Renewal
Annual Renewal is the time of year when you tell Unilever how you’d like to use your Benefits Envelope for the year ahead.
At the same time, you can use your pay to buy other benefits.
Annual Renewal runs in July and August.
Every Unilever employee gets a Benefits Envelope on top of their pay
It’s worth 25% of your pensionable earnings (your basic pay and, for some people, other allowances).
You can use it to save for pension, give yourself extra taxable pay or both.
Read more about your Benefits Envelope
July
We’ll let you know when Annual Renewal starts
July to August
Sign in to unileverbenefitchoices.com to:
- Check your choices – see what you’re doing now and what changes you can make
- Use the modeller – get a rough idea of how different choices might affect your pension and take-home pay
Get help to choose. Webinars and one-to-one sessions are available face-to-face and online.
August - 6 weeks after Annual Renewal starts
1st October
New choices come into effect for the year ahead
Changes you can make
There are some changes that you can only make during Annual Renewal and some changes that you can make at any time.
From your Benefits Envelope
DB Career Average Plan
- Start building up pension in the DB Career Average Plan (if you are eligible)
- Stop building up pension in the DB Career Average Plan
If you stopped building up pension in the DB Career Average Plan pension in the last 2 years, next Annual Renewal might be your last chance to re-join.
DC Investing Plan
- Start saving into the DC Investing Plan
- Change how much you save
- Stop saving
Extra taxable pay
- If you have any Benefits Envelope left over after you’ve chosen from the options above you’ll get this as extra taxable pay
From your pay
Monthly (‘fixed’) EVC with salary sacrifice
Variable EVC
- Start saving
- Save more
- Save a one-off amount
Extra life cover
- Start, stop or change the level of extra life cover
Serious ill-health cover
- Start or stop paying for serious ill-health cover
Changes you can make at any time
From your Benefits Envelope
You cannot change how you use your Benefits Envelope outside of Annual Renewal.
But you can make some changes. These depend on how you are currently using your Benefits Envelope.
If you are currently building up pension in the DB Career Average Plan you can:
- Stop building up pension in the DB Career Average Plan
If you also use your Benefits Envelope to save into the DC Investing Plan alongside the DB Career Average Plan these savings will stop too.
You can start saving into the DC Investing Plan a month after you’ve left the DB Career Average Plan.
Any EVCs you make will also stop. You cannot make EVCs if you do not use your Benefits Envelope to save for pension.
If you are currently building up pension in the DC Investing Plan, but not in the DB Career Average Plan you can:
- Stop saving into the DC Investing Plan.
Any EVCs you make will also stop. You cannot make EVCs if you do not use your Benefits Envelope to save for pension.
If you are currently not saving for pension and taking all of your Benefits Envelope as extra taxable pay, you can:
- Start saving into the DC Investing Plan.
And you can start making EVCs.
From your pay
You must be using your Benefits Envelope to save for pension in the DB Career Average Plan and / or DC Investing Plan before you can make EVCs.
Monthly (‘fixed’) EVC with salary sacrifice
Variable EVC
- Start saving
- Save more
- Save a one-off amount
Getting help to choose
The Unilever Benefit Choices website is designed to help you make your choices during Annual Renewal. But you can explore your choices, use the modeller and watch recordings of last year’s webinar throughout the year.
Sign in using your Unilever account.
Unilever Benefit Choices
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