New 'salary sacrifice' schemes go live

Salary Sacrifice- Sarah Massie

We’re delighted to announce that the recently-announced salary sacrifice schemes have gone live, meaning employees can now agree to a reduction in gross salary in return for a car or bike.

From today (25th October) the CPC Drive car benefit scheme, in conjunction with Tusker, is now available for all employees, and includes a fully maintained and insured car, and savings on tax and national insurance on the gross salary being sacrificed. No deposit is needed either which means you get to keep your savings safely tucked up in your bank account.

Meanwhile, the Cycle Solutions-led bike salary sacrifice scheme is underway. The scheme has the UK’s widest choice of bikes with more than 550 cycling brands available to you. You'll be able to build the perfect Cycle to Work package to give you access to a healthy and more active lifestyle.

Staff use dedicated websites for both schemes - if you’re looking for a car, follow the instructions on East24. For a bike, visit https://www.cyclesolutions.info/eeast.

Posters, leaflets and road shows will allow you to find out more, but visit East24’s dedicated page as the main point of information as we'll be keeping it up to date regularly. If you have a specific question now, you can email the Finance team on ed.davison@eastamb.nhs.uk or penny.bain@eastamb.nhs.uk.

Eligibility requirements include: 

Employees legally cannot agree by sacrificing salary to a take home level of earnings below National Living Wage, as such a base line level of earnings of £18,500 is required to access the scheme to enable salary deductions. This is set by the scheme provider to comply with the law on earning levels.

Staff members must be permanent (not Bank), such that employment is secured for the entire duration of the agreement

Published 25th October 2018
Updated 30th October 2018

 

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