IFS launches salary sacrifice scheme with risk elimination
Called "Justdrive", the scheme has been set up due the to the increased interest the leasing firm is seeing from customers.
It says it delivers a wide range of fully flexible insurances to safeguard employers against early unforseen termination charges in the event of staff leaving the company. Employees interested in taking up a company car salary sacrifice scheme will be directed to an online portal that helps them in the decision-making process.
Inchcape Fleet Solutions’ managing director Terry Bartlett said: ‘We have added a salary sacrifice scheme to our range of vehicle funding options due to massive interest from existing clients.
‘Many of our clients already offer their employees a wide range of salary sacrifice options as part of their menu of flexible staff benefits and they want to add a company car scheme to that portfolio.’
"Justdrive" has been designed to ensure employers are in full control of the salary sacrifice scheme. A comprehensive range of insurances covering resignation and redundancy; and maternity, paternity and adoption as well as GAP insurance, protects organisations against the risk of staff leaving their employment during the contract term.
Mr Bartlett added: ‘Our discussions with clients highlighted that while they were keen to offer a company car salary sacrifice scheme they wanted to be able to insure against taking on any additional costs such as early termination charges. We have therefore taken those concerns into account in launching ‘Justdrive’, which delivers a risk-free salary sacrifice solution to employers.
‘Additionally, within the scheme employers can individually decide whether to share National Insurance contributions savings with employees and whether to include an administration fee, which enables them to build up a contingency fund in the event of unforeseen charges occurring.
‘We believe that "Justdrive" is a totally risk-free product for employers, while offering employees tremendous value for money and all the established benefits associated with taking delivery of a new car.’