...you want to opt-out?

If salary sacrifice isn’t right for you or you decide that you don’t want to make pension contributions by salary sacrifice, you can choose to opt out of salary sacrifice. If you decide to opt out, you will carry on paying contributions directly from your pay. You’ll still receive tax relief on your contributions under current legislation, but you’ll pay national insurance on the value of your pension contribution each month. If you want to opt out, please complete a Salary Sacrifice Opt-Out Form and return it to Nestlé Pensions.

...you are over state pension age and no longer pay national insurance?

You won’t save any money by making contributions through salary sacrifice because you no longer pay national insurance. However, unless you tell us otherwise, we’ll still include you in salary sacrifice so that Nestlé can benefit from paying lower employer national insurance contributions.

...you decide to participate in salary sacrifice for other benefits?

Making pension contributions through salary sacrifice will not normally have any impact on other salary sacrifice arrangements you choose to join. The only time this wouldn’t be the case would be if it reduced your total take-home pay after salary sacrifice to below either the lower earnings limit or the national living wage.

...you are repaying a student loan?

If you make contributions through salary sacrifice, your loan repayments will reduce slightly because they will be based on your lower post-salary sacrifice take-home pay figure.

...you need a financial reference to get a mortgage or loan?

If you make contributions through salary sacrifice, your payslip will look slightly different. The salary sacrifice amount will be shown as an adjustment with brackets around it under the Pay & Allowances column on your payslip, to show that you make contributions through salary sacrifice. Your P60 (the summary of your pay and the tax that has been deducted from it in the tax year, which we provide you after the end of each tax year) will reflect your take-home pay after salary sacrifice. You should bear this in mind if using your P60 for a financial reference (e.g. a loan). If you need a reference for mortgage or loan purposes, Nestlé will tell lenders about your reference salary. Lenders are interested in your disposable income and so should take into account the fact that no pension contributions are being deducted from your take-home pay after salary sacrifice.

...Nestlé decides to end salary sacrifice in the future?

Salary sacrifice is a voluntary arrangement, which Nestlé could choose to stop offering at any time. At the moment, we intend to offer salary sacrifice indefinitely. However, we reserve the right to withdraw salary sacrifice if tax, NI or pensions law changes or if it is no longer commercially viable to offer salary sacrifice. If this happens, you will simply go back to making pension contributions and AVCs directly from your pay and you wouldn’t been expected to repay any of the savings you’d received while making contributions through salary sacrifice.