Salary Sacrifice Terms and Conditions

Definitions

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 Collection which is redeemable within a network of stores within Ireland against your chosen products.

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 Collection Terms and Conditions

Upon receipt of your Letter of Collection please review the terms and conditions (which will be located on the email you receive containing the LoC) 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. 

Irish cycle to work scheme rulings

By joining the scheme you are confirming that you will follow the guidance as stipulated by the Irish Tax and Customs. The link to this is as follows:- https://www.revenue.ie/en/jobs-and-pensions/taxation-of-employer-benefits/cycle-to-work-scheme.aspx

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 12 month period with effect from the date that I am in receipt of a Letter of Collection.

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 on the application form.