Fleet News

Tusker welcomes research showing more plan to add salary sacrifice car schemes

Tusker has welcomed new research amongst UK businesses which shows that salary sacrifice car schemes are the most popular benefit that employers intend to add to their flexible benefits plan for employees.

The research, which was carried out amongst 346 organisations, found that some 22% of respondents plan to add salary sacrifice cars to their flexible benefits, while 10% of employers plan to add low-emission cars to their plans.

The research,  conducted by Employee Benefits magazine in conjunction with flexible benefits consultant, Towers Watson, also found that some 18% of employers currently offer salary sacrifice cars and 11% of employers currently offer low-emission cars through their flex plans.

The flexible benefits study involved businesses of all sizes, with 54% employing more than 1,000 staff, of which 14% employed more than 10,000.

Tusker, the UK’s market-leader with more than 155 live salary sacrifice car schemes in operation, operates a fleet of 12,500 vehicles, of which approximately 70% are funded via salary sacrifice schemes.

The majority of employees opting into Tusker’s SS4C scheme typically take delivery of a new low emission, fuel efficient car which replaces an eight to 10-year-old vehicle.

Tusker CEO, David Hosking said: “We are delighted but not surprised that the Employee Benefits/Towers Watson research has shown that increasing numbers of employers intend to add salary sacrifice car schemes to the list of flexible benefits they provide to employees.

“This is completely in line with our own findings and underlines the value that British businesses place on a salary sacrifice car scheme as a legitimate way of providing staff, who would not otherwise qualify, with a brand new car."

Hosking added that he believed that demand for salary sacrifice car schemes would continue to grow and calculated that vehicles supplied could account for as much as 20% of the fleet market by the end of the decade.


Discover more about implementing a salary sacrifice scheme at our Fleet News salary sacrifice seminar – April 10 at Hanbury Manor, Ware, and May 13 at Cranage Hall, Cheshire. Click here for details.

 

 


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