Salary sacrifice and tax efficiency
Did you know there’s a way for employees to boost their pension pot and their take-home pay, and for employers to pay less in National Insurance too? It’s done through ‘salary sacrifice’, which involves employees opting to have a portion of their gross salary paid directly into their workplace pension.
A great staff benefit
Offering salary sacrifice can be an attractive staff benefit, helping to recruit great people and retain them for longer. It’s also a potential money saver for employers.
Great for employees and employers
But as with many aspects of workplace pension arrangements, it can be a complex business and must be set up correctly. Our Workplace Advice Group team makes the process simple and straightforward so that everyone benefits – meaning a bigger potential pension pot for employees, and more cash for the business too.