Tour operator and travel agency Inspire has introduced a salary sacrifice scheme for corporate clients which allows staff to pay for holidays in instalments deducted from monthly pay packets.
Salary Sacrifice by Inspire is a new scheme for companies to offer to their employees as a flexible benefit. It has already been taken up by a number of UK-based businesses and more than 90 NHS trusts nationwide.
It means staff can pay off holidays over ten to 12 monthly instalments up to a limit set by the employer, rather than having large sums to pay off on their credit cards. Holidays are booked through Inspire.
The scheme is underpinned by a new trust account, launched by Inspire in April, which protects all monies spent on salary sacrifice as well as funds loaded on to the company’s gift cards.
Group chief executive Peter Pantelides said: “Having gained so much experience and insight from operating our own highly successful travel gift card for more than a decade, the salary sacrifice scheme is a natural strategic development for us. The new scheme not only plays to our strengths but fills a gap in the current market.
“The annual holiday is one of the largest household expenses of the year and having the opportunity to pay for it via a salary sacrifice scheme, and not use expensive credit terms, is an attractive way to fund that well-earned time away.
“The companies which are offering our scheme to their employees are telling us that it is proving very popular with their staff.”
Pantelides said the trust account meant clients had “complete peace of mind” thanks to full financial protection, an issue which has become even more important due to the pandemic.
He added: “Gift card consumers need to know their money is 100% safe, as do those who are purchasing a holiday through Salary Sacrifice by Inspire. By operating our own trust account, we can give them that guarantee.
“We are now the only UK-based retailer to place all our gift card and salary sacrifice scheme funds in a secure trust account.”
Inspire, an Abta, Atol and Iata licensed travel agency and tour operator, has more than 300 travel partners including Expedia, Tui, Kuoni, Jet2Holidays, Sandals, Disney, and Hoseasons.