Finance Department

Payroll Section

SEASON TICKET LOAN SCHEME

The University of Salford operates a loan scheme for staff who would like to purchase an annual season ticket to travel to and from work. Upon production of the original receipt, the employee’s travel pass and a signed salary mandate, the full cost of the ticket will be reimbursed in the next salary payment. The loan is then repaid through salary deduction over a maximum period of twelve months, or less if the employee prefers.

Eligibility for a Season Ticket Interest Free Loan:

·  Loans are granted for the specific purpose of reimbursing an employee for the purchase of an annual season ticket for travel to and from work by bus, tram or train.

·  Loans are available to salaried members of the University of Salford with at least six months service

·  The employee’s contract of employment must cover the whole of the repayment period of the agreed loan

·  The cost of the season ticket cannot exceed £5,000.

Terms and Conditions of the scheme:

·  The repayment of the loan can only be made through deduction from salary

·  If the employee leaves the University before the loan is fully repaid, the remaining balance will be deducted from the final salary payment. Please note that if the balance of the outstanding loan is larger than the final net pay, the employee will be required to repay the total outstanding balance before the last date of employment.

·  An employee will not be allowed more than one loan in any period of twelve months (unless the first loan is repaid in full)

·  Compliance with any conditions imposed by the carrier concerning use, loss and replacement is the responsibility of the employee. Repayment of the loan will continue even if the ticket is lost or no longer being used

·  The balance of the loan can be settled in full at any time by arrangement with the Payroll Manager

·  The agreed loan will not be renewed automatically on its anniversary date. The employee must submit a new loan application after the purchase of their new ticket, along with the original receipt and travel pass

·  The provision of a loan is at the University’s discretion and the existence of this scheme does not confer any rights on any persons to loans and advances against salary for other purposes.

To apply for a Season Ticket Loan please complete the attached mandate and, along with your original receipt and travel pass, visit the Payroll Section in person. We are based on the 5th Floor in Maxwell Building.

If you have any queries or require further information, please do not hesitate to contact us at or by telephone on 0161 295 4193.

FINANCE DEPARTMENT

PAYROLL SECTION

SEASON TICKET LOAN SCHEME

SALARY DEDUCTION MANDATE

EMPLOYEE NAME

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PERSONNEL NUMBER

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PAYROLL AREA

ACADEMIC/PROESSIONAL SERVICES AREA:

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Home Address:

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Season Ticket Loan Amount:

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£

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I authorise the deduction of:

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£

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per month from my salary (round up to nearest pence)

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For a period of:

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Months (maximum of 12 months)

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With effect from:

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(date)

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I have read and agree to the terms and conditions of the loan scheme and understand that should I leave my employment with the University of Salford before the loan has been fully repaid, the remaining balance will be deducted from my final salary. However, if the balance of the outstanding loan is larger than my final net pay, I will repay the total outstanding balance before my last date of employment.

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Signed:

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Date:

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for Payroll Section use only

Signature checked by/Source of check

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Input by & date

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Audited by