Buying and releasing holiday
(This benefit does not apply to colleagues who are on RAC terms and conditions)
Relax – and spend more time doing what you enjoy most.
You may need some extra personal time, so we’re bringing you a way to increase your holiday entitlement.
Whether you’re planning to go on a once-in-a-lifetime safari, move house or are expecting your first baby, this option gives you the freedom to buy and release up to 5 days holiday.
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Roll over the photographs to see some examples of the difference this could make |
At a glance
What is it?
We want you to enjoy a good work life balance, so you can buy or release up to 5 days holiday a year. If you buy holiday this will reduce your monthly salary, if you sell holiday this will increase your monthly salary.
How it works
- You can buy or release up to 5 days holiday.
- If you work part time or non-standard hours, the amount of holiday you can buy or release will be pro-rated.
- Each day of holiday entitlement is valued at 1/260th of your annual salary.
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When you first join Aviva the amount of holiday you can buy or release will depend on the date you join. The pro-rata holiday calculation is:
Annual holiday entitlement x Whole months worked in the holiday year / 12
- How to calculate the value of your holiday in days: Salary / 260
- How to calculate the value of your holiday in hours: Salary / (Hours worked per week/5) x 260
- Details of monthly charges for each benefit are available when you log in.
- For general questions about this benefit, you can call the my Aviva flex helpline on 0800 917 2310.
Buying holiday - saves on Tax?
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Buying holiday - saves on NI?
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Releasing holiday - saves on Tax?
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Releasing holiday - saves on NI?
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Key points to consider
- Will you need some additional holiday in this holiday year?
- Do you or your family have any events coming up where some extra holiday would help - eg. weddings, family holidays, school trips etc?
- Don't forget to tell your manager if you buy or release holiday.
What happens next
If you select this benefit you will see the effect on your pay in the following month.
Managers can check the holiday that their team has bought or sold through the People Manager reporting function on HR-i. For further guidance go to Ask HR