2019 United Kingdom Benefits Guide
The benefits in this guide apply to Expatriate Commuters or Expatriate Resident Commuters with a home address in the United Kingdom.
Please note: Full details of the benefit plans are included in the Detailed Benefit References (DBRs) of the plans. Read full Disclaimer
The benefits in this guide apply to Expatriate Commuters or Expatriate Resident Commuters with a home address in the United Kingdom.
At Transocean, we are proud to have the most committed, passionate and capable team in our industry. Your Transocean benefits help you and your family unlock your potential in so many ways. They give you the ability to stay healthy, protect your income if you become disabled, help you prepare for retirement, and much more.
This Benefits Guide was designed to help you learn about your options. Take a few minutes to walk through your choices before you enroll. That way, you can make the most of Transocean's benefits package.
Your benefits are just one way Transocean rewards your hard work, dedication, and commitment. Thank you for your ongoing dedication to Transocean.
Getting StartedPrint this page
It is very important to review this Guide and follow the enrollment instructions carefully. You will only be eligible to enroll again for health and welfare benefits when first eligible, during the Benefits Annual Enrollment period, or if you experience a qualifying family status change.
Annually you will be given an opportunity to review your coverage. There are also different times you may change coverage throughout the year: as a new hire, as a transferred employee, or if you experience a qualifying family status change. Each period has different deadlines and rules. Please take time to review the type of enrollment period that most applies to you.
Qualifying Family Status Change
You must notify the Transocean Benefits Center within 60 days of a qualifying status change. You can do this online at YourTransoceanBenefits.com by logging into your account and processing a Life Event. If you have a question, you can click "contact us".
How to Enroll
Enrolling for your benefits is easy. There are two ways to enroll:
online and over the telephone.
To enroll online, visit YourTransoceanBenefits.com
To enroll by phone, call +1 646 259 0401.
Remember, if you want to make voluntary contributions to the Worksave Retirement Plan, you need to log on to Workday at http://myworkday.deepwater.com and navigate to the Benefits Worklet to enroll or make changes to your WRP contribution. Select Change Benefits and then L&G Worksave Retirement.
Who is EligiblePrint this page
For Medical, Dental, Voluntary Life Insurance, and Voluntary Accidental Death & Dismemberment coverage, you can cover:
- Your spouse
- Your Domestic Partner
- Your children
Adding Dependents to Coverage
Transocean will verify eligibility for all dependents added to coverage. You will be required to provide documentation showing proof of relationship for any dependent added to coverage to ensure they meet eligibility requirements.
In addition to your spouse or Domestic Partner, Transocean allows coverage for your dependent children, including:
- Biological children
- Stepchildren who reside with you
- Children under legal guardianship and
- Adopted children
Dependent children must be under age 26. Disabled children may be covered beyond age 26.
MedicalPrint this page
To help you and your family stay healthy, Transocean offers a private medical plan managed by AVIVA. You can use the Transocean medical plan to supplement the care offered by the National Health Service (NHS).
Your private medical insurance coverage with Aviva provides you with the peace of mind that you'll receive prompt access to diagnosis and eligible private medical treatment, should you need it. Along with your comprehensive healthcare cover, Aviva also provides you with additional benefits to help you look after your health and wellbeing.
See the Aviva Member Guide for details on filing a claim, or contact the Aviva information and claims helpline at 0800 158 3315 and reference group number 961BFW. For more general advice, contact the Aviva 24 hour GP helpline at 0800 158 3112.AVIVA Medical Benefits
Call the Aviva 24 hour stress counseling helpline any time at 0800 158 3349.
DentalPrint this page
Available through Cigna U.K. Dental Plan, your benefits cover most necessary dental care, up to Plan limits. You can visit any licensed provider.
If you need medical or dental care after you have enrolled, Medical and Dental coverage can be verified using these group numbers:
961BFW AVIVA Medical
D30819 Cigna U.K. Dental
Download the Aviva app for on the go information on how to start your claim, use with your GP to search for a specialist and click to call access to our claims teams.
Life InsurancePrint this page
Transocean offers life insurance coverage for you and your eligible dependents through Cigna. You are automatically enrolled for Basic Life Insurance coverage. You will need to enroll for any Voluntary Life coverage you want to purchase for yourself and/or your dependents.
Basic Life Insurance
Basic Life Insurance provides coverage equal to two times your annual base salary rounded up to the next higher $1,000, up to $750,000.
Transocean pays the full cost of this benefit and you are automatically enrolled for this coverage.
Voluntary Life Insurance
You can supplement your Company-paid Basic Life Insurance coverage through Voluntary Life Insurance. You can purchase coverage of one to five times your annual base salary, rounded up to the next higher $1,000, up to $750,000.
Your combined Basic and Voluntary coverage may not exceed $1,250,000.
Dependent Life Insurance
If you buy Voluntary Life Insurance for yourself, you can buy Life Insurance for your family as well.
You can buy Voluntary Spouse Insurance of $10,000, $25,000, $50,000, $75,000 or $100,000. Your spouse's coverage cannot be more than 50% of your Voluntary Life Insurance.
You can buy Child Life Insurance of $5,000, $10,000, or $20,000. The coverage you select applies to all your eligible children.
Accidental Death and Dismemberment
It isn't pleasant to consider, but everyone should be prepared for worst-case scenarios. Accidental Death and Dismemberment (AD&D) Insurance gives you one more way to protect your finances when you need them most.
Available through Cigna, AD&D pays a benefit if you lose your life or are injured in an accident. These benefits are paid in addition to Life Insurance benefits.
Transocean provides you with Company-paid Basic AD&D coverage. You can supplement this coverage with additional Voluntary AD&D or Family AD&D coverage.
Basic AD&D Insurance
Transocean pays 100% of your Basic AD&D Insurance benefit. Your benefit is equal to two times your annual base salary (up to $750,000*).
The coverage limit will begin to reduce at age 65.
*All amounts indicated are in USD.
Voluntary AD&D Insurance
You can buy additional AD&D Insurance for you and your family. You can choose between one and five times your annual base salary.Learn More
Who is your beneficiary?
Make sure your loved ones are protected. Be sure to keep your beneficiary information up-to-date and accurate. You can do this as part of the online enrollment process.
Short-Term Disability (STD)Print this page
If you are unable to work due to a non-work-related illness or injury, Short-Term Disability (STD) replaces a portion of your base salary.
STD pays you a percentage of your monthly base salary as follows:
- 80% for the first six weeks
- 66 2/3% for up to 20 additional weeks
Benefits begin after a seven-day elimination period. Transocean pays the full cost of STD benefits and you are automatically eligible after 180 days on the job.
Long-Term Disability (LTD)Print this page
If you are unable to work for more than 26 weeks due to a non-work-related illness or injury, and you are approved by the carrier, Long-Term Disability (LTD) coverage, administered by Cigna International, pays a portion of your eligible base salary. You will receive 60% of your monthly base salary, up to a maximum monthly benefit of $15,000 USD. LTD benefits continue for the length of your disability, but generally not beyond your 65th birthday. Your benefits can continue after age 65 if you go on LTD after age 60.
Transocean pays the full cost of LTD and you are enrolled after 180 days on the job.
RetirementPrint this page
The Transocean Worksave Retirement Plan (WRP) can help you have a great retirement. A key benefit is that the Transocean WRP pension plan is a qualifying plan for UK tax purposes. The WRP is administered by Legal and General (L&G). Additionally, the contributions to the plan are invested in funds managed by L&G.
To find out more information on the Plan, visit www.legalandgeneral.com/transoceanwrp or call L&G at +44 345 070 8686.
Enroll/Making Changes to Your Account
Login to Workday at http://myworkday.deepwater.com and navigate to the Benefits Worklet to enroll or make changes to your WRP contribution. Select Change Benefits and then L&G Worksave Retirement – UK Only.
You can participate in this plan if you are a current Transocean employee with a home address in the United Kingdom.
Transocean will make contributions to your account based on your contribution to the account. The more you contribute, the more Transocean will add. You can contribute up to 100% of your pensionable earnings (subject to you receiving the minimum wage as take home pay). The Transocean contribution ranges from 5.5% to 9.5%. The maximum company contribution may be reached when you contribute equal to, or greater than, 5%.
This means that UK tax relief is available for employee contributions made to the plan, subject to certain limitations. In addition, Company contributions to the plan are not taxable at the point of funding. Note: it will be the responsibility of each individual to report the correct taxable values on their tax return and we recommend you engage a local tax professional.Contribution as % of Eligible Earnings
Investing Your AccountPrint this page
You have many options when it comes to investing your retirement accounts. Visit legalandgeneral.com/transoceanwrp to research your investment options and login to Manage Your Account to make your investment choices in the WRP. You can also call L&G at +44 345 070 8686.
After you have joined the Plan and received your new joiner details from L&G, you can make your investment elections by logging into www.legalandgeneral.com/transoceanwrp or by phoning +44 345 070 8686 (Monday to Friday, 8 am – 6 pm GMT +1).
Leaving the Transocean WRP
If you leave the Company or opt out of the Plan before retirement, your contributions and the Company’s contributions to your account will stop. You will need to give one month’s notice if you decide to end your membership without leaving the Company. In this case, your membership will cease at the end of the following month.
Unless you elect to change your investment selection at the time of leaving, your retirement savings pot will continue to be invested in the same way as before.
Upon leaving the company:
- Transfer the value to a new employer’s registered pension scheme, provided they are willing and able to accept the transfer.
- Transfer the value to a registered pension scheme of your choice provided they are willing and able to accept the transfer.
- If you become self-employed or join a new employer who doesn’t run a pension scheme you can carry on paying into your plan, although Transocean's contributions will stop.
If you are unsure about your decision, contact your financial adviser.
Refer to the Frequently Asked Questions document and the WorkSave Retirement Plan Members Booklet on the Legal and General website under “Useful documents” for information.
Also, be sure to designate a beneficiary by completing the Nomination of Beneficiary form in the “Useful documents” section.
+1 646 259 0401
7 a.m. to 7 p.m. Central Standard Time
0800 158 3315
Aviva 24-hour counseling;
0800 158 3349
Aviva GP helpline;
0800 158 3112
|Cigna U.K. Dental|
|Legal and General: Worksave Retirement Plan|
+44 345 070 8686
|Fidelity U.K.: International Retirement Savings Plan - Frozen as of 31 March 2016|
Within the U.K.:
Outside the U.K.:
About this guide
This guide provides highlights of the Transocean, Inc. benefit programs for Expatriate Commuter and Expatriate Resident Commuter employees residing in the United Kingdom. It is not an official plan document. The guide is a general summary of certain terms and conditions of the health and welfare benefits and is for information purposes only. If there are any discrepancies or conflicts between this guide and the terms of the official plan documents and any underlying insurance contracts, as applicable, the official plan documents and insurance contracts, as applicable, will control. Nothing in this document creates an employment contract between Transocean Inc. and any employees. Transocean Inc. reserves the right to amend, change or terminate the plans or any underlying contract, at any time and without notice, at its sole discretion, according to the terms of the applicable plan.
Around the 4th quarter of each year you will be given an opportunity to change your coverage, to be effective the first of the coming year. Coverage cannot be changed outside of this time period, unless you experience a qualifying family status change during the year (e.g. marriage, divorce, birth or adoption of a child, change in spouse's eligibility for medical coverage, etc.) If you did not enroll, you will default into your most recently elected coverage.
New Hire Enrollment
The elections you make as a new hire become effective on your hire date and remain in effect through the end of that year.
If you don't enroll:
- You will have Medical (Employee Only coverage), Dental (Employee Only coverage), Basic Life Insurance, Basic Accidental Death & Dismemberment (AD&D) Insurance, Short-Term Disability, and Long-Term Disability.
- You will not have any Voluntary Life Insurance or Voluntary AD&D Insurance.
- You will be enrolled in the Worksave Retirement Plan at 0% Employee Contribution and the base Employer Contribution. You can change your election for this plan at any time.
|AVIVA U.K. Medical Plan|
|You pay this amount before the plan pays.||£100 per covered member|
|Consultations with a Specialist including:||£1,500 combined per benefit year per insured person|
|Minor surgery by a GP||Up to £70 per approved procedure (payable to the GP)|
|MRI and CT scans (in AVIVA-recognized hospitals)||In full|
|Treatment for complications of pregnancy and/or childbirth||In full|
|Targeted drug therapies for cancer||In full (up to 36 months per condition)|
|In-patient and Day-patient Treatment (on the AVIVA Key Hospital List or in an NHS pay-bed)|
|Hospital Charges including accommodation and meals||In full|
|Nursing care, drugs and surgical dressings||In full|
|Specialist fees (consisting of surgeons', anaesthetists' and physicians' fees)||In full|
|Theatre charges; intensive and high dependency care||In full|
|Diagnostic Tests (pathology and X-rays)||In full|
|MRI and CT scans||In full|
|Parent accommodations (accompanying child under 12 when undergoing eligible treatment; one parent only)||In full|
|In-patient and Day-patient Treatment||In full (up to 28 days)|
|Specialists' fees for In-patient treatment||Up to £210 per week|
|Out-patient treatment by a Specialist or by a Psychiatric Therapist||Up to £1,000 per benefit year (must be referred by GP)|
|Private Ambulance||In full when medically necessary to nearest appropriate hospital|
|Home Nursing||In full immediately following eligible in-patient or day-patient treatment|
|Hospice care||£70 per day (up to 10 days' care maximum); donation to hospice|
|NHS cash benefit||£200 per night (for each night spent undergoing eligible NHS in-patient treatment; maximum 28 nights per year)|
|NSH day-patient cash benefit||£100 per day (for each day spent as an NHS patient undergoing eligible treatment)|
All costs for which benefit is being claimed must be Medically Necessary. Amounts payable are subject to AVIVA's fee guidelines. A list of fee guidelines can be found online at aviva.co.uk/health/online-fee-schedule any amount above the relevant guideline figure will typically not be covered.
If you have back, neck, muscle or joint (musculoskeletal) pain you don't need to see a GP before contacting Aviva – call Aviva straight away on the customer service helpline number to access their clinically led BacktoBetter service. For all other conditions it's important that you contact the customer service helpline before you undertake any specialist consultations or receive any private medical treatment or referral from your GP.
Seeing a General Practitioner or specialist
You do not need to contact Aviva before seeing a GP. However if your general practitioner refers you to a specialist, you should contact Aviva before seeing the specialist to obtain an authorisation number and to verify that the service is covered under the Plan. Aviva will also assist you in coordinating your care and deciding which plan will cover the care that is needed.
If you have an emergency, you do not need to contact Aviva before obtaining care.
|Cigna U.K. Dental Plan Benefits|
| Preventive, Minor and Major Treatment, including: ||£3,000 core annual benefit|
|You may be eligible for a Healthy Discount of 20% if you use a "Health Discounts dentist" for private dental treatment.|
|Accident and Emergency Pain Relief||£800 annual benefit|
|Life time maximum for oral cancer||£15,000|
Major treatment, treatment resulting from an accident and oral cancer must be pre-authorised by Cigna.
Guaranteed Issue Coverage and Evidence of Insurability
The Guaranteed Issue (GI) amounts are:
- Up to $250,000 of Voluntary Life coverage for you
- Up to $50,000 of Dependent Life coverage for your spouse
- Up to $20,000 of Dependent Life coverage for each of your dependent children
During benefits enrollment, you may enroll or increase your coverage by one times your annual base salary, up to $250,000 without providing Evidence of Insurability. In addition you can enroll or increase your spouse life insurance by one increment up to $50,000 without providing Evidence of Insurability.
If you wish to buy more coverage than the Guaranteed Issue limit, you must provide Evidence of Insurability to the insurance carrier. If you select Voluntary or Dependent Life coverage that requires EOI, the insurance carrier will ask for additional information after enrollment. Cigna will approve or deny your request for excess coverage based on this information.
While your request for extra coverage is being processed by Cigna, you will be covered for the maximum GI amount for which you are eligible. If your request for excess coverage is approved by Cigna, your coverage will become effective on the first of the month following the date of approval.
Voluntary AD&D Insurance*
You can elect to cover yourself alone or add your family to your coverage. Here's how Voluntary AD&D works:
|Your Coverage||Your Spouse's Coverage||Each Dependent Child's Coverage|
One to five times annual base salary, rounded up to the next $1,000, up to a maximum of $750,000.
Your combined Basic plus Voluntary AD&D cannot exceed $1,250,000.
60% of your coverage amount if no children are insured.
50% of your coverage amount if children are insured.
Maximum spouse coverage is $300,000.
10% of your coverage amount if your spouse is insured.
15% of your coverage amount if your spouse is not insured.
Maximum coverage for each child is $25,000.
*All amounts indicated are in USD.
|Years of Service||Weeks at 100% Pay After Absence of 5 Consecutive Work Days||Weeks at 66 2/3% Pay|
Contribution as % of Eligible Earnings
|5.0% or more||9.5%|
*You can exchange more than 5%; however the Company will not contribute more than 9.5%.
|Years of service with the company||Company contributions as a percentage of compensation|
|Less than 5 years||4.50%|
|5 - 9 years||5.00%|
|10 - 14 years||5.50%|
|15 - 19 years||6.00%|
|20 years of more||6.50%|