Salary exchange schemes

Salary exchange is an arrangement where the employee agrees to give up part of their salary for an agreed period in exchange for some kind of non-cash benefit, such as the loan of a bicycle, the lease of a low emissions vehicle or childcare. The University offers a range of salary exchange schemes to all staff.

The childcare voucher scheme enables employees to purchase up to £243 of childcare vouchers per calendar month through salary exchange. You could save up to £1,487 per year on the cost of childcare, depending on the amount of childcare vouchers you order and the amount of tax and national insurance you pay.

Find out more about childcare vouchers.

The University of Exeter has joined up with P&MM, one of the largest employee benefits providers in the UK, for employees of the University to use cycles through a government scheme to encourage people to cycle to work, which saves you income tax and national insurance on the cost of the cycle, and spreads the cost over 12 months. The cycle to work scheme allows you to redeem a voucher at a large number of local cycle shops in Devon and Cornwall which participate in the scheme.

Find out more about the cycle to work scheme.

The University's car scheme offers eligible staff the opportunity to acquire a new, energy-efficient 'green' vehicle at much lower rates than those generally available to members of the public, through salary exchange. To support the University's sustainability agenda, only vehicles with low CO2 emissions can be obtained through the scheme. The leasing charge includes vehicle excise duty (road fund licence) and all servicing and maintenance costs.

Find out more about the University car lease scheme.


As part of its Sustainable Travel Plan, which aims to encourage alternatives to travelling to work by car, the University has partnered with Stagecoach to offer staff a 10% discount on bus passes.

Find out more about staff bus travel.


For employees who travel to and from the campuses by train regularly, the University can provide an interest-free loan for the purchase of an annual rail season ticket, subject to certain conditions. 

Find out more about interest-free loans for train passes.