Annual Leave Purchase Scheme (ALPS)
The Annual Leave Purchase Scheme (ALPS) is a new voluntary perk that lets colleagues purchase up to 74 additional hours (the equivalent of 10 days for someone working full-time) to use as annual leave.
The total cost of annual leave granted will be spread over 12 equal monthly instalments by salary sacrifice – meaning the amount is deducted before you pay tax and national insurance, helping you to save money.
An application window will be open from 1-28 February 2025 for staff to apply for additional leave for the next annual leave year (May 2025 – April 2026). We also recommend that you speak to your line manager before applying if you’re considering the scheme.
Whilst this benefit is available across the university, not everyone will be able to participate, as there will be some eligibility criteria depending on the type of contract you have. More information can be found on the dedicated webpages.
We also encourage colleagues to take advantage of the ALPS calculator so you can understand the impact the ALPS will have on your salary and if you are eligible.
Be part of our Electric Revolution
Loughborough University will be teaming up with Octopus Electric Vehicles to offer a brand-new Electric Vehicle Salary Sacrifice Scheme.
The scheme not only aligns with the University strategic theme of ‘Net Zero and Climate Change’ but it also strengthens our Rewards and Benefits package for colleagues.
An Electric Vehicle Salary Sacrifice Scheme means you give up some of your gross monthly pay for a new electric vehicle, but you can save up to 40% on the monthly cost thanks to savings on National Insurance and Income Tax.
It is designed to make transitioning to electric vehicles not only sustainable but also affordable, whilst contributing to a greener planet.
Please note eligibility for the scheme will depend on individual circumstances. Our goal is to ensure fairness and accessibility where possible, and we’re committed to supporting all employees in their journey towards being more sustainable whilst also receiving a competitive rewards and benefits package at Loughborough, no matter their role, salary or grade.
More information about the scheme, such as what’s included in the package and a list of FAQs, will be made available when the scheme launches.
We will provide a further update in January. However, if you have any immediate queries about either of the new schemes, please contact the Rewards and Benefits team.