We do not currently have a formal Sabbatical Leave policy in place but wanted to understand what other companies do in relation to benefits.
- Core benefits (taxable) e.g. Life Assurance and Income Protection
- Core benefits (taxable) e.g. Critical Illness and Medical Insurance
- Voluntary benefits funded either by Flex Allowance or Salary
Thanks,
Ash
Thanks for the reply - very helpful. How do you recover the tax on the taxable benefits whilst they are unpaid?
Hi Ash. We've had what we call a Lifestyle Break policy in place for a while. This is the way we treat benefits during the period of unpaid leave.
Core benefits - Life Assurance, Income Protection and Private Medical - These continue to be funded for the duration
Voluntary benefits - We would continue to ensure that the costs of any health related benefits (critical illness, private medical, additional life assurance etc) are covered for the duration. Any other flex benefits such as retail card, additional pension, BAYE, GAYE etc would not be covered.
Hope that helps