Based on the principles of social stability and trying to improve living standards of employees, AfriCorp Petroleum implements popular social programs, including benefits and guarantees to which all employees are entitled, regardless of whether they are members of a trade union or whether a AfriCorp Petroleum Group company has a trade union.
Social guarantees are provided both to AfriCorp Petroleum’s Group employees in abroad, irrespective of whether a staff member is employed full- or part-time. AfriCorp Petroleum’s social policy is based on long-term social programs that are of the greatest value and potential for the employees.
HEALTHCARE
AfriCorp Petroleum Group health care system incorporates a range of economic, social, medical, and sanitary measures designed to boost performance of the personnel by promoting physical and mental health of AfriCorp Petroleum Group employees and retirees. It specifically covers the following lines of activities:
Commitment to a healthy lifestyle is a corporate value. Promotion of health values and personal responsibility for health lays the foundation for corporate and sports activities and events, including sports and athletic contests, district or regional competitions and tournaments, camping trips and guided tours for the employees, their families and veterans. The Company also holds events intended to prevent common diseases.
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Preventive Healthcare
The Company has built an efficient system of timely detection of occupational diseases. Joining efforts with insurance companies that provide services under voluntary health insurance plans, medical workers help at medical stations in the Company’s offices and at production facilities.Â
As the laws of the Nigeria and the countries, where the Company operates require, AfriCorp Petroleum has introduced pre-employment and regular medical examinations. Advanced medical equipment, available at on-site medical stations, allows automatic pre-shift check-ups of employees.
Medical workers must call up employees for diagnostic maneuvers, remedial or preventive actions, including seasonal vaccination campaigns against flue and tick-borne encephalitis. Health schools, open at medical stations, offer various training, hypertension prevention and treatment among them.
First aid treatment in AfriCorp Petroleum Group companies is provided by medical stations, pre-trip medical examination rooms and by paramedic stations and physician offices in compliance with legal requirements.
PERSONNEL INSURANCE
Committed to support state systems of social insurance and provide compulsory social protection to all employees, the Company supports and develops excess corporate insurance and social welfare programs.
Voluntary Medical Insurance
Healthcare system is based on the voluntary medical insurance (VMI) that guarantees additional medical services, complementary to standard compulsory insurance, technologically advanced medical examinations and medical assistance of higher quality. Implementing voluntary medical insurance programs, the Company
- follows uniform rules of voluntary medical insurance across AfriCorp Petroleum Group;Â
continuously monitors the quality of medical assistance in order to protect rights and interests of medical workers.
Employees are free to choose a more flexible insurance scheme to accommodate their needs and extend the coverage of the available voluntary medical insurance at their own expense.Â
HOUSING PROGRAM
The Company’s housing program meets the requirements of AfriCorp Petroleum’s Housing Policy Framework. The latter establishes two basic objectives:
- To ensure rotation of personnel and provide accommodation to invited personnel, including recent graduates.
- To assist employees who require better housing facilities.
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Following these principles the Company seeks to ensure decent living conditions for its personnel in places of employment, andÂ
- compensates housing rent or rents private, state owned or municipal residential accommodation.
- subsidizes interest rates of home loan mortgages.
- sells available residential accommodation to employees on special terms.
NON-STATE PENSION BENEFITS
The Company implement corporate pension benefits program that envisages financing of additional pensions at the employer’s cost.
Our entities finance a defined corporate pension plan that covers the majority of employees. These plans are financed solely by AfriCorp Petroleum entities. Employees have an opportunity to make pension savings with the Company’s contribution from employees’ annual salary. The Pension Act signed provided that employers with atleast 15 employees are required to participate in a contributory pension scheme for ther employees. The minimum contribution of 10% by the employer and 8% by the employee.
Pension benefits for employees of AfriCorp Petroleum foreign companies are regulated by laws of a country where the company operates and corporate regulations. Some pension plans are financed solely by employers, while others are based on contributions from both employees and employers.
