What are flexible benefits?

Flexible benefits (Flex) offer employees the choice and flexibility to exchange their salary for the things that are important to them and allow employers to offer a broader range of benefits to their workforce. Core benefits can also be offered on top of an employee’s salary.

One great thing about flexible benefits is the possible tax and NI savings to be made using salary sacrifice. A salary sacrifice exchange happens when an employee gives up the right to part of their salary due under their contract of employment. Usually, the exchange is made in return for the employer’s agreement to provide the employee with some form of non-cash benefit. In most cases, discounted purchase prices can also be achieved as well as the ability to spread any payment terms over a 12-month period.

Plusnet Perks

Find out how we helped Plusnet roll out a flexible benefits scheme to their employees:

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