Salary Sacrifice Arrangement definition

Salary Sacrifice Arrangement means an arrangement whereby a member's contract of employment with an institution is varied so as to reduce the cash remuneration to which the member would otherwise be entitled in respect of service after the date of that variation and either:

Salary Sacrifice Arrangement means any arrangement under which the employee gives up the right to receive part of their gross salary in return for the employer’s agreement to provide the teacher with a benefit-in-kind under any of the following schemes:

Salary Sacrifice Arrangement means a salary sacrifice arrangement in accordance with this Determination and the “Guideline of the Commissioner for Public Sector Employment, Salary Sacrifice” issued by the Commissioner for Public Sector Employment as updated from time to time.

Examples of Salary Sacrifice Arrangement in a sentence

• Eligible employees who have Excess LSL cashed out under this clause must enter into a Salary Sacrifice Arrangement for the equivalent amount to be paid into the Superannuation Fund as Ordinary Time Earnings, unless the employee has reached their concessional contribution cap.

• All charges, costs, disbursements, fees or other similar expenses charged by the Nominee for administering the Salary Sacrifice Arrangement shall be deducted from the sacrificed amount withheld from the office holder’s salary upon proper authorisation of the Nominee by the Paying Authority.

• The office holder acknowledges that he/she has sole responsibility for seeking independent and personal financial advice with respect to his or her acceptance of Salary Sacrifice and the Salary Sacrifice Arrangement and that this is not a matter for the Paying Authority at all.

• If any clause or part thereof is held by a court to be invalid or unenforceable such clause or part thereof shall be deemed deleted from the Salary Sacrifice Arrangement and the Salary Sacrifice Arrangement shall otherwise remain in full force and effect.

• Neither the Paying Authority nor the office holder shall assign sub-contract or otherwise transfer any of its rights or obligations pursuant to the Salary Sacrifice Arrangement whether in whole or in part without the prior written consent of the other party.

More Definitions of Salary Sacrifice Arrangement

Salary Sacrifice Arrangement means an arrangement under which the member gives up the right to receive an amount of pensionable pay in return for the provision of a benefit in kind including, but not limited to, a benefit consisting of a motor car or other ve- hicle, meals, care or vouchers.

Salary Sacrifice Arrangement means an arrangement whereby a Member’s contract of employment with his Employer is varied so as to reduce the cash remuneration which the Member would otherwise be entitled to in respect of Service after the date of the variation and whereby the Employer either provides the Member with non-cash benefits which are specified on a list of applicable non-cash benefits maintained by the University, and/or the Member is relieved of the duty to pay Member’s contributions under Rule 45 but his benefits from the Scheme are calculated as though his cash remuneration had not been reduced. As at [21 August 2012] the list of non-cash benefits includes the use of the University’s nursery, the provision of childcare vouchers and the University’s Cycle to Work and car schemes. An arrangement can include one or more of the elements referred to above.

Salary Sacrifice Arrangement means an arrangement specified by the scheme manager under which P gives up the right to receive part of P’s salary in return for P’s employer agreeing to provide P with benefits in kind as specified by the scheme manager; and

Salary Sacrifice Arrangement means a salary sacrifice arrangement operated by an Employer under which an Active Member opts for a reduction in his salary equal to the amount of some or all of the contributions which the Active Member is liable to pay under Rule 14 and/or any contributions he elects to pay under Rule 15, on the basis that the liability to pay contributions to the Scheme under Rule 14 and/ or Rule 15 is extinguished or reduced accordingly and the Employer agrees to pay an amount at least equal to the amount of the contributions or the extra contributions which the Active Member would have made if the Salary Sacrifice Arrangement had not been in operation.

Salary Sacrifice Arrangement means a salary sacrifice arrangement in accordance with this Determination.

Salary Sacrifice Arrangement means an arrangement whereby a Member’s contract of employment with his Participating College is varied so as to reduce the cash remuneration which the Member would otherwise be entitled to in respect of Service after the date of the variation and whereby the Participating College either provides the Member with non-cash benefits which are specified on a list of applicable non-cash benefits maintained by the Participating College, and/or the Member is relieved of the duty to pay Member’s contributions under Rules 3.1 or 3.2 but his benefits from the Scheme are calculated as though his cash remuneration had not been reduced.

Salary Sacrifice Arrangement means any arrangement under which an employee forgoes the right to receive any part of his or her remuneration due under his or her terms or contract of employment and in return his or her employer agrees to provide him or her with a qualifying incentive.