Salary sacrifice is a contractual arrangement between you and the University where you give up the right to receive part of the cash pay due to you under your employment contract, and in return the University provides you with a non-cash benefit, such as childcare vouchers, or membership of an applicable pension scheme. Funding a benefit via salary sacrifice allows employees to make savings on their tax and National Insurance contributions, thus increasing their take home pay.
Note: From 2008 to 2016 the University branded some of these salary sacrifice arrangements as ‘Enhanced Employee Benefits’. For simplicity, we now refer to all such arrangements as ‘salary sacrifice’. You may see references to ‘Enhanced Employee Benefits’ in older paperwork (such as your contract of employment if it was issued between 2008 and 2016) and should consider all such references to mean salary sacrifice.
The University currently offers the following benefits via Salary Sacrifice:
PASNAS Pension contributions - The PASNAS scheme closed to new members on 1 January 2019
Childcare vouchers - The childcare vouchers scheme closed to new members on 4 October 2018