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Salary sacrifice

Helping you and your employees make financial savings

Using salary sacrifice (also known as salary exchange) as a way for employees to make pension contributions has become increasingly common. At Fidelius, we call this method ‘SMART’ – Save More And Reduce Tax. By making contributions using SMART both you and your employees will save money in National Insurance Contributions (NICs) and your employees may also benefit from income tax savings.

You can pass your employer’s NIC savings back to your employees as an additional pension contribution or, if you prefer, keep some or all of the savings within your business, perhaps to help fund other aspects of your employee benefits package.

We can help:

  • guide you through the process of implementing a salary sacrifice scheme, helping you avoid the pitfalls that would make your scheme ineffective in the eyes of HMRC
  • tailor your scheme to your needs, for example, whether salary sacrifice should be offered on an ‘opt in’ or ‘opt out’ basis
  • communicate the scheme to your employees
  • ensure employees understand the impact salary sacrifice would have on their personal position through face-to-face individual meetings

Salary sacrifice can also be used for a number of other employee benefits, including childcare vouchers and company car schemes, which often form part of a flexible benefit or voluntary benefit arrangement.

If you would like to find out more about salary sacrifice and how it could benefit your business, please contact us on 0845 241 6500. 

Can we help?

Our team of consultants are here to help you with your employee benefits needs.

call us on:

0845 241 6500

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