Save as you earn (SAYE) contributions
Currently employees are able to delay the payment of monthly contributions to an SAYE contract by up to 12 occasions in total without causing the contract to be cancelled. HMRC will allow contributions to be postponed for a longer period where the additional months are missed due to coronavirus (COVID-19). Any temporary postponement of contributions will put back the contract maturity date by the total number of months missed, including any additional months missed as a result of the impact of coronavirus.
Where employees are receiving payments under the coronavirus job retention scheme, SAYE contributions can continue to be deducted from those payments.
If employees are unable to make contributions because they are on unpaid leave, HMRC will allow payments to be made via standing order, but deductions from salary should restart as soon as possible.
For further details on SAYE, see the SAYE schemes – an overview guidance note.