Top tips for introducing salary sacrifice pension schemes

Oct 14, 2021 - Employee Benefits - UK

Salary sacrifice pension schemes, whereby an employee agrees to reduce their earnings by an amount equal to their pension contributions, can be an attractive workplace arrangement. Sacrificing part of salary means an employee will pay less in tax and both the employee and the employer will pay less in National Insurance contributions (NICs).

Only half of British organisations use salary sacrifice for workplace pensions, according to research published by Workplace Pensions Direct (WPD) and...