About salary sacrifice

The terms and conditions of participating in the DC Plan through salary sacrifice.

General terms and conditions

Selecting benefits through salary sacrifice is subject to your agreement to the following terms and conditions. Any reference to ITV means the ITV Company you’re employed by.

You understand and agree to the following:

  • All of your benefit choices are subject to approval by ITV. ITV will review your choices once they’ve been submitted and on an on-going basis, to ensure they don’t exceed the relevant maximum levels or reduce your salary below the permitted limits.
  • By selecting a salary sacrifice benefit, you authorise ITV to reduce your contractual basic salary by the value of the benefit you choose.
  • Any reduction to your basic salary will be a change to your contractual terms and conditions of employment and will continue until the end of the relevant benefit period, unless you experience a qualifying life event. Any life event changes are at the discretion of ITV and you don’t have an automatic right to revert back to your previous salary level.
  • ITV will continue to calculate any benefits, entitlements or payments linked to your salary (for example, bonuses or life assurance) using your basic salary before any adjustment for salary sacrifice benefits.
  • ITV has the right to modify, suspend or discontinue any salary sacrifice benefit at any time and at its absolute discretion, giving due notice.

Participating in the DC Plan through salary sacrifice: terms and conditions

You confirm and agree to the following:

  • You’ll participate in the ITV Defined Contribution Plan (the DC Plan) automatically through salary sacrifice unless ITV advises you otherwise or until you complete an Opt out form either before your membership of the DC Plan begins or during the renewal period each year (for the purposes of the DC Plan, the renewal period is during March each year).
  • If you participate in the DC Plan through salary sacrifice, you’ll be deemed to have accepted the general terms and conditions set out above.
  • If you participate in the DC Plan through salary sacrifice, you give up your entitlement to monthly basic salary equal to the core contribution you’ve chosen in return for your employer agreeing to pay an additional contribution to the DC Plan, for your benefit, of that amount.
  • You can only opt in or out of salary sacrifice outside of the renewal period if you experience a life event (as defined under the terms of the DC Plan). You also understand that you can only change your pension contribution option from 1st April and 1st October each year.

Information we may collect directly from you

The categories of personal information that we collect directly from you include:

  • personal details (for example, your name, date of birth);
  • your bank details and national insurance number;
  • your contact details (for example, your address, phone number and email address); and
  • details about who you’d like us to consider paying benefits to if you die.

Last updated: January 2023