Bonus sacrifice
Use your bonus to boost your pension
In March and August each year you can choose to use some, or all, of your bonus to increase your pension savings. You select how much you wish to pay into the pension, and it will be deducted via the salary sacrifice arrangement, so free of National Insurance and tax deductions, making it a tax-efficient way to save, and helping your bonus go further. SAP will also add a further 7% of your contribution (at SAP we call this NI passback) in recognition of the Company’s NI savings.
If you do decide to pay in some, or all, of your bonus to the pension scheme, look out for the emails in February and July.
You can find out more in the Bonus Sacrifice Guide.
In line with previous years, SAP will be offering their August bonus sacrifice window which will be open to all employees eligible to receive a bonus in August 2020. The selection dates for August bonus sacrifice are from Monday 6 July 2020 to Friday 31 July 2020.
The main March 2021 bonus sacrifice window will be available from Monday 1 February 2021 to Friday 26 February 2021. Please be aware that the bonus sacrifice will only apply if you make a selection on this site during these time periods and will remain an SAP UK Ltd employee up to and including the cut off dates.
An email will be issued with links as soon as the window opens.
Your chosen contribution will be made to your pension at the end of either August 2020 or March 2021 and SAP will add in the NI passback after you have made your selection and pay this along with your bonus sacrifice to Scottish Widows.
At a glance
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Tax savings
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Employer funded
Tax savings
The money you pay for some benefits (such as your pension) is taken from your salary before tax and National Insurance are deducted. This means you don’t pay any tax on the money you use to fund these benefits. For some other benefits (such as tax-free saving for childcare) the tax is added back on to your contribution when the benefit is provided.
Employee funded (EE)
A benefit which you choose to join at an additional cost to you.
Employer funded (EF)
A benefit that is funded by the Company, at no cost to you.
Limited time benefit
You can only sign up to limited time benefits during March, or within three weeks of joining SAP.
Flexible benefit
You can sign up for flexible benefits at any point during the year. Be aware that you can’t always make changes to these benefits at any time during the year, so check on the conditions when you sign up.
