Northumbrian Water has introduced a contract hire scheme and salary sacrifice arrangement for its company cars.
The water and waste company, which has a fleet of 350 company cars, previously operated an employee car ownership scheme.
Its salary sacrifice scheme forms part of the company's flexible benefits plan, which is available to approximately 3,000 employees.†
In order to reduce the fleet's carbon footprint and control fuel costs, the benchmark vehicles will be capped at an emission level of 160 g/km across all job grades with employees having to contribute financially if they wish to order a new car above this limit.
The company has appointed leasing and management firm Tusker to provide cars for its company car scheme and for its new salary sacrifice scheme, called the SalarySacrifice4Cars scheme.
Michelle Legg, compensation and benefits manager at Northumbrian Water, said: “This benefit is available to all employees who may choose to take a car for themselves or for a member of their immediate family, giving savings on tax and national insurance and benefiting from Northumbrian Water fleet discounts.
“Employees have a free choice of car in the salary sacrifice scheme provided emissions do not exceed 160 g/km which mirrors the structure of our company car scheme. This ensures savings are maximised but also supports our environmental aims.”
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