Salary Sacrifice Terms and Conditions
Definitions
- “Commencement Date” means the date you enter into the Salary Sacrifice Agreement.
- “Letter of Redemption” or “LoR” means the letter provided to you as part of the scheme which you can redeem against your elected goods/services.
- “Salary Sacrifice Agreement” means this agreement between you and your Employer as set out below.
- “Termination Fee” means the amount payable by you if you leave your employer’s employ during the term of the Salary Sacrifice Agreement.
Background
In order to complete your application your employer requires you to join its salary sacrifice scheme. It is important that you understand the nature of this scheme before entering into it.
The scheme involves you voluntarily taking a reduction in your gross salary in exchange for a Letter of Redemption which is redeemable against your chosen product or service within a Halfords store, garage or on halfords.com.
Please note that as a result of joining a salary sacrifice scheme, your terms and conditions of employment will change, but only to the extent that that your gross salary will be reduced, and a new benefit introduced. There may also be some other consequences to your take home salary or other benefits which you should review and discuss with your HR Team.
If you are happy to continue with this salary sacrifice scheme, please indicate this by ticking the relevant box shown on the Salary Sacrifice Agreement set out below.
Should you have any questions about this scheme please contact your HR Team.
Letter of Redemption Terms and Conditions
Upon receipt of your Letter of Redemption please review the terms and conditions (which will be located as a link on the email you receive containing the LoR) to ensure that you have a full understanding of how it can be used and redeemed.
Cancellation Rights
You have the right to cancel the Salary Sacrifice Agreement within fourteen (14) days of the Commencement Date without giving any reason (the “Cancellation Period”).
To exercise the right of cancellation during the Cancellation Period, you must click the link on the email provided to you about your cancellation rights after this Salary Sacrifice Agreement has been executed by you.
Halfords must receive your cancellation notice before the Cancellation Period has expired.
The Salary Sacrifice Agreement cannot be cancelled once the Cancellation Period has expired.
Leaving Employment
If you cease to be employed by your employer for any reason during the period of the Salary Sacrifice Agreement, the Salary Sacrifice Agreement will terminate and you will no longer be able to benefit from the National Insurance exemption.
If this happens, you will be required to pay the Termination Fee to your employer. The amount of the Termination Fee will be determined by your employer in its absolute discretion, although it will not exceed an amount which is equal to the amount outstanding under your Salary Sacrifice Agreement. Your employer will inform you of the amount of the Termination Fee prior to your employment ending.
The Termination Fee will be collected by your employer from your net salary payments. If this is not possible for any reason, your employer will require settlement of the Termination Fee within 14 days of your employment ceasing.
Salary Sacrifice Agreement
Dear Employer
I hereby renounce my entitlement to the amount specified in my application of my gross basic salary to be collected over a fixed period with effect from the date that I am in receipt of a Letter of Redemption.
I hereby confirm all of the information submitted in my application is true and accurate.
I acknowledge that this represents a change to the terms and conditions of my employment, and I confirm that I have read and understood the materials supplied to me explaining the nature of the changes.
I confirm my agreement by way of ticking the box below:
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