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What benefits will be included in My BarrattBenefits?Currently My Barratt Benefits include:• Buying/selling holiday• Charitable giving• Dental Plan• Gym membership• Cycle to Work scheme• Healthcare cash plan• Childcare vouchers• My Barratt Staff Shop retail discounts and lifestyle benefits
How do I select my benefits?You can select your benefits online atwww.barrattflexiblebenefits.co.uk or by followingthe instructions for each benefit included in thispack. (NB Please note that the applicationsprocess differs for each provider, so please readthe enclosed information carefully.)
Do I need the approval of my line manager toselect any benefits?Buying/selling holiday requires approval from yourline manager. If you choose to buy or sell holidayyou should complete a form available from thewww.barrattflexiblebenefits.co.uk website, orfrom the HR Chapter of the Policies & ProceduresManual. If you don’t have access to Docushare, askyour HR Co-ordinator or a member of the HR team.These forms need to be signed by your linemanager. Unfortunately, because holidayarrangements for weekly paid employees aregoverned by the Working Rule Agreement it is notpossible for weekly paid employees to buy or sell holiday.
How long will each benefit last?For some choices there will be a minimum 12month contract period, for others it may be shorter.Please see individual choices and scheme details orcontact each provider for clarity.
Can I take up new benefits during the course of the year?Benefits can be taken up at any point in the year,except Buy/Sell Holidays which has a window fromDecember – March.
Can I change my benefits during the course of the year?Some benefits can be altered at any time, howeverif they require a contractual agreement (i.e.childcare vouchers) then they can only be altered ifyou have a change in your personal circumstancesknown as a “lifestyle event” (for example marriageor the birth/death of a dependent).
When will My Barratt Benefits be effective?Once you have submitted your request(s), thePayroll team will be notified and a confirmationstatement letter will be sent out by your HR Co-ordinator. Once this letter is signed andreturned then your benefits will be added on byPayroll and will take place on the next availablepayroll date.
What is salary sacrifice?Salary sacrifice is a financially efficient way ofstructuring pay and benefits, allowing you and thecompany to save money. Under salary sacrifice yourpay is reduced and Barratt then provides you with abenefit of equal value.
What are the advantages of salary sacrifice?Salary sacrifice allows you to pay less Tax and / orNational Insurance. The company also savesNational Insurance contributions.
For further details on all of the benefitsavailable to you within ‘My Barratt Benefits’ please visit www.barrattflexiblebenefits.co.uk
MYBARRATTQUESTIONS & ANSWERS
What does it mean for the amount of income taxand National Insurance contributions I pay?Income TaxFor buying holiday, the Cycle to Work scheme andchildcare vouchers, if you are a basic rate tax payeryou will save income tax at the rate of 20% on anypay sacrificed. If you are a higher rate tax payer youwill save 40% (for additional rate payers the savingis 45%). Childcare vouchers are now capped for taxrelief.
Basic £55 week annual gain (max) £933.00Higher £28 week annual gain (max) £630.00Additional £25 week annual gain (max) £590.00
National InsuranceIf you earn more than the Primary Threshold youwill save National Insurance contributions on thevalue of any pay sacrificed for benefits (includingpension contributions). The amount you savedepends on the level of your pay.
Are there any situations when salary sacrifice isnot suitable?Salary sacrifice is attractive for most employeesbecause it increases their take home pay. However,you are not allowed to exchange pay to a level thatwould put you below the National Minimum Wage.If by participating in salary sacrifice you wouldreduce your pay below the Lower Earnings Limityou would give up valuable State benefits whichmay not be in your best interests. If after selectingyour benefits your pay would drop below either ofthese limits we will notify you so that you canamend your selection.
Will it affect the amount I can borrow?When applying to borrow money from a financialinstitution such as a mortgage company, you willoften be asked for your salary. To ensure themaximum amount you can borrow is not reducedyou should tell them your notional salary (yoursalary before it is reduced). The lender should thentake this salary into account when working out ifyou can afford the loan.
What happens if I don’t choose any of the benefitson offer?Don’t worry, if you don’t make any choices you willstill retain your existing contractual benefits.
What benefits operate under salary sacrifice?• Buying holiday • Gym membership• Cycle to Work • Childcare vouchers• Dental Plan • Healthcare cash plan
Will it affect any benefits I receive from Barratt?The benefits you receive from Barratt are notaffected, and we will make sure of this by usingyour notional salary for salary-related benefits.Although your salary is reduced by the amount yousacrifice for other benefits, all your benefits (forexample death in service lump sum benefit) will bebased on your salary before it is reduced – we callthis “notional salary”. Salary review and bonuseswill also be based on notional salary.
As I will be paying less National Insurancecontributions, will this affect the amount of StatePension I receive at retirement?It will have no effect on your Basic State Pension.If, after salary sacrifice, your salary is abovethe Upper Accrual Point or below the EarningsThreshold (values in line with HMRC changes) thensalary sacrifice will have no effect on your StateSecond Pension (S2P). If you earn between theseamounts after salary sacrifice, you will earn lessS2P as this is based on your actual earnings. Thereduction is likely to be small and you need to weighup the savings you will make in National Insurancecontributions against a small reduction in theamount of S2P you will receive in the future.
For further details on all of the benefitsavailable to you within ‘My Barratt Benefits’ please visit www.barrattflexiblebenefits.co.uk
MYBARRATTQUESTIONS & ANSWERS
Will it affect Statutory Maternity Pay or StatutoryRedundancy Pay?Statutory Maternity Pay (SMP) and StatutoryRedundancy Pay (SRP) are based on your actualearnings and payments can sometimes be reducedunder salary sacrifice. SMP is based on 90% ofyour gross weekly earnings for the first six weeksthen it is paid at a flat amount per week for mostemployees. Participating in salary sacrifice benefitsreduces your gross pay and will therefore reducethe amount of SMP you receive for the first sixweeks of maternity leave.
SRP is calculated using your basic salary. Amaximum amount is taken into account whencalculating SRP. Therefore participation in salarysacrifice benefits would reduce SRP if your payafter salary sacrifice is less than the maximumamount. Further information can be obtained fromwww.direct.gov.uk
Will it affect Working Tax Credit or Child Tax Credit?Other means tested benefits such as Working TaxCredit and Child Tax Credit could increase byparticipating in salary sacrifice. Rules for claimingbenefits are based on wider personalcircumstances than just salary. For furtherinformation on tax credits contact the HM Revenueand Customs helpline on For up to date figuresplease go online to www.direct.gov.uk / 0845 300 3900.
Will it affect Student Loans or any other payments?Any employees with outstanding Student Loansshould not be adversely affected by participating insalary sacrifice. The Student Loans Companyusually measures your ability to make repaymentsbased on your P60 earnings. As this figure wouldnot increase due to salary sacrifice you should notbe adversely affected. If you need furtherinformation on this matter you may wish to contact the Student Loans Company Limited on 0870 240 6298.
If you have a County Court Judgement (‘CCJ’) oranything similar, changes are not usually made tothese as a result of salary sacrifice. However,where the Order is explicit about the definition ofpay to be used, then the impact of salary sacrificeshould be noted to those parties to the Order. Youshould seek legal advice if you are unsure on thismatter.
Are there limits to the amount of salary I can sacrifice?You are not allowed to exchange pay to a level thatwould put you below the National Minimum Wage.If by participating in salary sacrifice you wouldreduce your pay below the Lower Earnings Limityou would give up valuable State benefits whichmay not be in your best interests. Anyone withearnings close to these limits will not been invitedto participate.
Is salary sacrifice a contractual change?Yes. Once your benefit choices under My BarrattBenefits have been approved the changes will forma variation in your employment contract for 12months. Details of this will be provided to you in writing.
Where can I get answers to queries/furtherinformation?You can get further information by visitingwww.barrattflexiblebenefits.co.uk If you have anyqueries about individual benefits you should contactthe benefit provider. Details are in the User Guideincluded in this pack. General queries should bedirected to your line manager or emailed [email protected]
For further details on all of the benefitsavailable to you within ‘My Barratt Benefits’ please visit www.barrattflexiblebenefits.co.uk
MYBARRATTQUESTIONS & ANSWERS
Contacting your providers
Gym MembershipGymFlexT: Enquiry line 0845 300 6474E: [email protected]
Healthcare Cash PlanBUPAT: 0845 6021092
Dental PlanBUPAT: 0800 2377777
Life Insurance & Critical Illness CoverLegal & GeneralT: Customer Services 0800 145 5514www.landg.com/barrattlife
Childcare VouchersComputershare Voucher Services (formerly Busy Bees)T: Customer Service 0845 0021111E: customerservice@computershare.co.ukwww.computersharevoucherservices.com
Cycle to WorkCycleSchemeT: Help Desk 0844 879 5101E: [email protected]
Charitable GivingStewardshipT: Stewardship 020 8502 5600E: [email protected]
My Barratt Staff ShopGee7T: 0844 692 3155E: [email protected]
For further details on all of the benefitsavailable to you within ‘My Barratt Benefits’ please visit www.barrattflexiblebenefits.co.uk
MYBARRATTQUESTIONS & ANSWERS
