What would you do with more annual leave? Bangor Benefits – Buying Annual Leave Scheme What would you do with more annual leave?

Make a saving on the cost thanks to the salary sacrifice arrangements. What’s it all about? Apply to buy additional annual leave in July, October or January July Spread the cost over 12 months . October Spread the cost over 9 months . January Spread the cost over 6 months . Make a saving on the cost thanks to the salary sacrifice arrangements.

How do I save? Salary Sacrifice means you agree for a set amount to be taken out of your salary each month for an agreed time This amount is taken out of your salary before your tax and national insurance is calculated. As a result even though you’re paying an extra amount, you pay less tax and national insurance overall and this gives you a saving. Bob earns £30738 a year. He buys 5 days annual leave paying this back over 12 months at a cost of £49.26 per month. Because of the salary sacrifice arrangement, Bob makes a saving on his national insurance and income tax which means he only end up paying £33.50 a month for his additional annual leave. Over 12 month this gives him a saving of £189 on the original cost.

What am I agreeing too? You agree to the deduction being made from your salary monthly You agree to the deduction being made for a set amount of months You agree to pay a one off fee of £30 to Sodexho to process your application. You agree that if you leave before the end of the agreement period you may have to refund the university (depending on how much of your additional leave you’ve used)

Who can apply? The scheme is open to Bangor University employees The cost of the annual leave cannot reduce your salary below the National Minimum Wage / Living Wage You must be able to show that you can make the monthly payments from you pay, for the relevant period offered by the scheme

How do I apply? 1 2 3 4 5 6

Where can I find out more? Email: benefits@bangor.ac.uk Telephone: Human Resources 01248 382058