A salary exchange agreement can normally be altered, for example, if someone opts out of an automatic enrolment scheme with salary exchange.
For any other circumstances, it depends on how the agreement has been set up. It may be necessary to change the terms of a salary sacrifice arrangement where a lifestyle change significantly alters an employee’s financial circumstances.
This may include:
- changes to circumstances directly arising as a result of coronavirus (COVID-19)
- marriage
- divorce
- partner becoming redundant or pregnant
