Salary Exchange Pensions - Who's Done It?

[cobra kid]

My employers are bringing this now and we've had a presentation about it from an external financial company. It all seems beneficial on the surface. The only losers are the people relying on NI contributions.

Anyone currently dealing with this?

[worsy]

Yeah it's pretty standard stuff these days (aka Salary Sacrifice). As you say there is a small boost to your pot through lower NI contributions (both employee and employer). The other benefit is that tax relief is given at source so no need to claim it back on your SA return if that's what you have been doing.

[Rich Boy Spanner]

Went into this a good few years back, didn't have a choice anyhow.

[Essel]

My wife started it this year. Makes a bit extra into the pension pot at no cost, so was a fairly easy decision once it had been explained. Depending on the company it can be better. My wifes company also puts the money they save on contributions into her pension. Not all companies do that, so it's worth checking.

[cobra kid]

Thanks people.....