Lowering Costs

Salary sacrifice (or exchange)
This is a government-approved process (pensions are exempt from the April 2017 clampdown on salary sacrifice schemes announced in the Chancellor’s 2016 Autumn Statement) that’s been used by many large employers. In short, by reducing the employee’s salary by the amount of their pension contribution, National Insurance contributions aren’t payable on the amount of salary given up or ‘exchanged’. Both you and your employees are better off as a result. Take a look at how much you could save:

Annual Employer Pension Cost Savings

ae

  
Postponement 
You can choose to delay when you start auto-enrolment by up to three months not just at outset, but also for all new employees. This can create significant cost savings too:
 
The examples shown here are based on employees receiving national average earnings with minimum contributions for auto-enrolment being paid. 

ae2

RNS Chartered Accountants

RNS Independent Financial Advisers are backed by the partners of the long established regional accountancy firm RNS Chartered Accountants. It means we can offer financial solutions that a traditional IFA can but also provide the breadth of knowledge and tax expertise afforded by advisers who are also qualified accountants. We encourage prospective clients to arrange a free initial consultation at our offices in Scunthorpe, Brigg and Barton or at your home or place of business.

Click here to find out more