Tusker salary sacrifice scheme selected by NYSE Euronext

Tusker has announced that its online salary sacrifice car scheme SS4C has been selected by NYSE Euronext Group, a global operator of financial markets and provider of trading technologies including the New York Stock Exchange, to power its new carbon efficient car scheme for its 650 UK employees.

Under the scheme, NYSE Euronext’s UK employees can give up part of their gross salary in exchange for a brand new car with a carbon emissions rating of no more than 120g/km.

NYSE Euronext introduced Tusker’s online salary sacrifice car platform following recommendations from its employee benefits consultant Truestone Employee Benefits, as one of a suite of voluntary benefits offered through iChoose, a flexible benefits platform developed by Truestone specifically for NYSE Euronext.

Truestone director Ed Smithson said: “We selected Tusker’s SS4C to power the carbon efficient car scheme within the voluntary benefits suite after interviewing several other providers. But we opted for Tusker because of its proven track record and the fact that it already had large clients in the salary sacrifice car market.”

The new salary sacrifice car scheme is not a substitute for an existing company car scheme as NYSE Euronext phased out its company car scheme several years ago and merged cash allowances into overall salaries four years ago.

“We wanted to extend our voluntary benefits offering to our staff with an initiative that promoted environmentally friendly new cars but was also tax efficient at the same time. As we are always looking for ways to reduce our carbon footprint as a company, this seemed the perfect solution,” said David Peach, human resources director at NYSE Euronext.

“So far uptake is around 2% and the introduction of the scheme, which went live in April, has been seamless,” he added.