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24 April 2023

Spend or save your bonus?

The bonus sacrifice scheme for 2023/24 is open from Monday 24 April to Sunday 14 May.

The scheme is available to current employees of ENWL.

If a bonus is payable and you’re eligible for one, and if you’re a current member of the defined benefit or defined contribution pension, you can choose to have your annual bonus added to your pension pot instead of being paid into your bank account.

Sending your bonus to your pension pot makes your bonus go further in the long run - with tax and National Insurance (NI) savings, your bonus is essentially tax and NI free.

If you want to send your bonus to your pension pot, you have to opt in through Energise by Sunday 14 May. If you’re not registered on Energise and want to take advantage of this great optional benefit, take a look at the guide to get started.

If you’d prefer to have your bonus paid into your bank account, you don’t need to do anything.

View the Enrgise 'Are you missing out' flyer