Where our employees use salary sacrifice for their pension contributions, the Company passes back 25% of it's saving as an additional employer pension contribution.
all the savings go to lowing the cost or increasing the contribution of the sal.sac. benefit.
examples: EV sal. sac. the NI saving goes into lowering the monthly lease hire cost Pension sal. sac. the Ni saving goes into uplifting the pension contribution.
If the employee didn't choose these benefits then there would be no NI savings for the employer - so it feels right to ensure all that savings go back to the employee.
---- To put it into an employee perspective - if you knew that the employer was taking savings that you contributed to and was putting it elsewhere how would you feel - when it could have easily been used to reward/incentivise you into selecting that benefit.
Hi Craig, we share half of the NI savings that we make by deducting pension contributions via salary sacrifice. We have a separate element on payroll that calculates the amount based on the employee contribution and this is paid across to the pension scheme as an additional employer contribution. We don't share any NI savings on other relevant sal sac benefits.
Hi Craig. This is a question that comes up quite regularly. We don't share any of the savings we make from any salary sacrifice schemes. We re-invest these into new and updated technology that supports our HR solutions as well as into new and improved benefits offerings. Ian
Where our employees use salary sacrifice for their pension contributions, the Company passes back 25% of it's saving as an additional employer pension contribution.
Hi Craig,
all the savings go to lowing the cost or increasing the contribution of the sal.sac. benefit.
examples:
EV sal. sac. the NI saving goes into lowering the monthly lease hire cost
Pension sal. sac. the Ni saving goes into uplifting the pension contribution.
If the employee didn't choose these benefits then there would be no NI savings for the employer - so it feels right to ensure all that savings go back to the employee.
----
To put it into an employee perspective - if you knew that the employer was taking savings that you contributed to and was putting it elsewhere how would you feel - when it could have easily been used to reward/incentivise you into selecting that benefit.
Hi Craig, we share half of the NI savings that we make by deducting pension contributions via salary sacrifice. We have a separate element on payroll that calculates the amount based on the employee contribution and this is paid across to the pension scheme as an additional employer contribution. We don't share any NI savings on other relevant sal sac benefits.
Hi Craig. This is a question that comes up quite regularly. We don't share any of the savings we make from any salary sacrifice schemes. We re-invest these into new and updated technology that supports our HR solutions as well as into new and improved benefits offerings. Ian