Buy additional holiday each year
You won't be eligible to join the scheme if buying extra holiday will bring your earnings below:
- The current National Minimum Wage (NMW), or
- Below the Lower Earnings Limit for National Insurance (NI) purposes.
Find out the latest National Minimum Wage rates on the gov.uk website.
Find out the latest Lower Earnings Limit for National Insurance purposes.
We're legally obligated to pay all our employees at or above the NMW.
Falling below the Lower Earnings Limit for National Insurance purposes would have a negative impact on any state benefits. This includes your State Pension.
The NMW is reviewed annually, and any increase is normally applied from 1 April. If the NMW is increased, colleagues with salaries around the national minimum wage may be affected. This means you may need to be withdrawn from the scheme at that point. Please refer to the FAQs for further information.
How much will it cost me to buy additional holiday?
The total cost is based on your hourly rate of basic pay as of joining NTU. The hourly rate is multiplied by the number of holiday hours you wish to buy. Monthly deductions are calculated by dividing the total cost by 12.
