Can I join the Salary Exchange scheme at any point during the year?

Article author
Nneka
  • Updated

We review the Salary Exchange scheme every year in January. It is during this time you will have the opportunity to opt in or opt out. For the upcoming year, the Salary Exchange form sent to your email must be returned by January 9.

Important Note
Starting from April 1, 2024, employees currently contributing through a net pay arrangement scheme will be automatically transitioned to a salary sacrifice scheme, unless they choose to opt into a relief at source scheme or if they are close to earning the national minimum wage.

See also: All about Salary Exchange in the UK

This change will result in both a slightly higher pension contributions and take-home pay. 

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