Discontinuation of the PEF Travel Benefit and 5% Rebate
Effective Friday, April 12, 2019.
For over 20 years, PEF Travel Services has proudly served PEF members and retirees by providing what many members considered the vacations of a lifetime with memories that will last forever.
It is with a heavy heart that PEF Membership Benefits Program announces the discontinuation of the PEF Travel Benefit and the 5% rebate program, effective Friday, April 12, 2019. The decision to discontinue the Travel Benefit and the 5% rebate program comes at a time when the trend for individuals to make their own travel plans online continues to increase, and the number of PEF members and retirees that PEF Travel Services serves continues to dwindle.
Over the last several years, PEF Travel has seen an extremely low number of members utilize this benefit. Less than 0.5% of all eligible members used the benefits last year. Today, over 41% of business travel and 60% of leisure travel arrangements are booked online and experts predict that the revenue in the segment of online booking of travel will exceed $11.5 trillion in the following decade.
While decisions that impact our members and our staff are never easy, the discontinuation of the Travel Benefit and the 5% rebate program are necessary steps in the strategic reassessment of PEF Membership Benefit Program’s benefit offerings. PEF Membership Benefits Program benefits need to be designed to ensure the provision of the greatest possible value to the largest possible percentage of the membership base, while also offering financial returns to secure the future of the Membership Benefits Program Trust.
With the discontinuance of the Travel Benefit and the 5% rebate program on Friday, April 12, 2019, please note: