June 6th, 2019 / Insight posted in Articles

Boost your savings while your employees boost their pension

As an employer, you can make substantial savings by offering your employees a salary sacrifice pension arrangement.

How it works

Instead of employees making an employee pension contribution, they elect to receive a lower gross salary, so reduce their liability to tax and national insurance. You, as the employer will reduce your employer’s NI liability but will make an increased contributions to your employees’ pensions

You can save up to 13.8% on your NICs on the amount sacrificed by each of your employees. With these savings, you can choose to make additional contributions to your employees’ pensions or retain it for your own business or a mixture of the two.

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