What are the savings & how do I save money?
For standard schemes, your employer recovers the total value of the product(s) ordered (including any administration and delivery fees) over a 12 month period. Your salary is reduced by the total value (you have selected) during this period, which reduces the amount of National Insurance Contributions (NIC) that you need to pay during this period, therefore generating an NIC saving.
Below is an example of the savings available over a 12 month period:
| The latest 64GB iPad Pro costs £769 | |||
| Here is a breakdown of your potential savings over a 12 month period | |||
| |
National Insurance Rate (NIC) | 8% | 2% |
| Get the latest 64GB iPad Pro from | £58.96 per month | £62.80 per month | |
| Your NIC Saving | £61.48 | £15.38 | |
| Total purchase price | £707.52 | £753.62 | |
For Net salary deduction schemes please be advised that the above illustrated savings do not apply.