Salary sacrifice schemes
We offer a series of salary sacrifice schemes. These allow our staff to buy a range of products at a reduced rate by paying for them through their gross pay.
Cycle to work scheme
We subscribe to a cycle to work scheme, which helps people to get a tax-free bike and save about 40% of the usual cost.
There are several opportunities to apply to the scheme every year. You can hire a bike plus safety equipment up to the value of £1,000. We buy the bike on your behalf and lease it back to you through a monthly salary sacrifice scheme, deducted from your gross pay.
Once the hire period is complete, you have the option to buy the bike for a fair market value or to extend the lease.
Our car scheme allows you to choose from a range of brand new cars with no deposit to pay. Typically you can save £70 a month, depending on the vehicle. Insurance, road tax, MOT, servicing, maintenance and repairs and breakdown assistance are all included.
At the end of the agreement, you can choose to either return or buy the vehicle, or enter into a new agreement for another vehicle.
Our Technology Salary Sacrifice Scheme means you can save at least 18% when you buy devices and goods such as:
- computers (tablets, desktops and laptops)
- smart TVs
- mobile phones
- white goods such as fridges, freezers, and washing machines
- and gym equipment.
A typical scheme term is 24-36 months.
Criteria for joining a salary sacrifice scheme
Our staff can apply to any of our salary sacrifice schemes. For your application to be successful:
- you must be a Trust employee paid through the Trust's payroll
- you must be over 18
- your employment contract must be for a longer period of time than the agreed hire period
- your gross basic salary must be above the National Minimum Wage for the full length of the salary sacrifice agreement, after taking into account all salary sacrifice benefits you have already committed to. Gross basic salary is your basic pay plus the High Cost Area supplement (also known as London weighting), and Long Term RRP if applicable. It does not include overtime pay, commission or bonuses.
- you must not be in receipt of any warnings under the Trust's disciplinary policy
- you should not be on any formal capability review or performance management
- you should not have outstanding debt of any kind currently being repaid directly via your salary
- you should not have incurred any fines with any of the Trust's salary sacrifice schemes.
For more information, email firstname.lastname@example.org.