Fidante Benefits Package

Yes. The amount you are required to pay in student loans will be lower as it is based on your pay after the Salary Exchange contribution reduction. If you pay off your loan at a lower rate, you will end up paying it back over a longer period, so it may cost you slightly more in interest.

How often can I change my level of Salary Exchange contributions?

Normally, once a year. Salary Exchange reviews will take place each March thereafter during which time you will have a 3-week period to notify of any changes you wish to make. Any change instructed will be effective from the following month (April) onwards. You will also have the opportunity to make changes in the event of a ‘lifestyle change’ such as buying a new home, marriage/civil partnership, childbirth/adoption, divorce, promotion or significant changes to working hours.

Members wishing to start Salary Exchange for the very first time can do so at any time.

What happens to my contributions in the event of a salary increase/decrease?

The amount you contribute is based on a percentage of salary chosen by you. This percentage will not change unless you request this at the review point, or as a result of the lifestyle changes mentioned. Contributions will therefore increase or decrease automatically in line with your new salary.

What do I need to do to instruct Salary Exchange contributions?

Strict rules apply to Salary Exchange to protect both you and Fidante. Your Terms and Conditions of Employment will be revised to include a Salary Exchange arrangement.

The first stage is to confirm the percentage of your salary that you wish to Exchange to the Corporate Team at JMA (our Benefit Advisers) using corporate@jmurray.co.uk with a cc to Sarah Callaghan in Payroll using scallaghan@challenger.com.au . A personalised letter of instruction confirming the change will then be emailed to you. All you need to do is sign and return to corporate@jmurray.co.uk . The Salary Exchange will start from the next available month.

When can I start making contributions using Salary Exchange?

You can decide to switch to Salary Exchange from the first of any month - although it is important that the Agreement Letter is signed and dated before the process is implemented.

How long will Salary Exchange contributions be an option?

The intention is for Salary Exchange contributions to remain in place indefinitely. However, as company circumstances and legislation may change, we reserve the right to withdraw Salary Exchange contributions without notice or compensation and reintroduce employee contributions on the current basis. In this event, your earnings would be increased by the amount of the employee portion of your Salary Exchange contribution, which would then be deducted from your earnings and paid as a NET employee contribution.

25