Pension tax relief: salary sacrifice
Employees sometimes might have the opportunity to contribute to a pension under a salary sacrifice arrangement. Here we look at what this means, and why it might or might not benefit you.
Employees sometimes might have the opportunity to contribute to a pension under a salary sacrifice arrangement. Here we look at what this means, and why it might or might not benefit you.
Due to the way tax relief is given for employees paying into net pay arrangement pension schemes, some low earners currently do not receive the same tax relief as those who pay into a relief at source pension scheme. Here we look at the problem and also tell you how the rules are changing in the ...
If you are paying into a pension as an employee, the way you receive pension tax relief depends on what type of pension scheme you are in. This page provides more detail on the different ways that tax relief is given on pension contributions – relief at source and net pay arrangements.Note that ...
The overall cost of pension contributions may be lower than you think if you are on tax credits or universal credit. This is because in the calculation of tax credit and universal credit income, you are able to deduct 100% of pension contributions – resulting in a higher award. There may be ...
Under auto-enrolment, employers must automatically enrol eligible workers into a qualifying pension scheme. Workers not automatically enrolled can opt-in to a pension scheme, if they wish.
Most people get a government top-up to their pension savings in the form of tax relief on their contributions. The way it is given depends on what kind of pension scheme you are in.