“Parental Leave” means an event whereby an employee is absent from their employment with the employer having taken statutory maternity leave, statutory adoption leave, statutory paternity leave or statutory shared parental leave.
If you wish to retain use of the car during Parental Leave, the salary sacrifice will continue for so long as your salary remains above the minimum wage.
If your salary falls below the minimum wage due to being on Parental Leave, then you have two options:
You can either return the vehicle and you will only be liable to pay one month’s gross rent as an administration charge for the early termination; or
Alternatively, you may opt to keep the car rent-free during your Parental Leave up to a maximum of 12 months, provided that the conditions for parental leave protection we offer to your employer are met.
We will not provide parental leave protection to your employer in the following circumstances:
Where Parental Leave starts within 6 months of you receiving the car; or
Once your monthly pay returns to being above minimum wage; or
If the rent-free period continues for a period longer than the original lease agreement.
If you opt to keep the car rent-free during Parental Leave, you will no longer participate in the early termination protection we offer your employer, which could mean that you are liable to your employer for any early termination charges levied by the leasing company if you subsequently return the vehicle before the lease agreement between the leasing company and your employer has expired.
Please note that your employer has the right to deduct sums equivalent to the administration charges and early termination charges from your salary in accordance with this Handbook.