Salary sacrifice | FAQ - Money

Questions

• Can I request more than 1 salary sacrifice in Money?
• Are existing salary sacrifices displayed?
• Are salary sacrifice requests recorded against the employee in my HR/payroll software?
• We have our own process for requesting salary sacrifices. Can I disable this feature for my employees?
• Are salary sacrifice requests automatically processed?
• I am a manager or admin. How long do I have to respond to salary sacrifice requests?
• I am a manager or admin. I have rejected my employee's request for a salary sacrifice. How do I update the status?
• How do I cancel a salary sacrifice as an employee?

Answers

  Can I request more than 1 salary sacrifice in Money?  

No. At this stage, you can only request 1 salary sacrifice into your superannuation account.

  Are existing salary sacrifices displayed?  

No. Only salary sacrifices set up through Swag will display in Money.

  Are salary sacrifice requests recorded against the employee in my HR/payroll software?  

At this stage, no, they are not recorded against the employee profile. We suggest saving the request email and the update record in your payroll software as evidence of the transaction.

We will be looking to provide this functionality in the future.

  We have our own process for requesting salary sacrifices. Can I disable this feature for my employees?  

No, you cannot disable this feature for your employees at this stage.

  Are salary sacrifice requests automatically processed?  

No. Requests are sent to your payroll admin to be added manually in your HR/payroll software.

The email your HR/payroll admin receives is a ‘Request to set up’ or ‘Request to cancel’ a salary sacrifice agreement.

  I am a manager or admin. How long do I have to respond to salary sacrifice requests?  

Each request from your employee comes with a start date and optional stop date. The start date is a minimum 7 days from the date of submission.

This gives you at least 7 days to respond to the request and notify your employee that you have rejected the salary sacrifice request.

For a request to stop, this is also dated 7 days minimum from the date of submission.

  I am a manager/admin and I have rejected my employee's request for a salary sacrifice. How do I update the status?  

Reply to the request email notifying your employee of the decision. After the requested start date, the employee can send a cancellation request in Swag. This will mark the request as archived for your employee.

  How do I cancel a salary sacrifice as an employee?  

You can request to cancel your voluntary salary sacrifice contributions by following the instructions in this article.