The article discusses Glaxosmithkline's (GSK) salary sacrifice arrangement for its trust-based defined contribution pension plan, which was introduced to its employees in July 2009. Employees will h...
If an employee wants to opt in or out of a salary sacrifice arrangement, you must alter their contract with each change. Your employee’s contract must be clear on what the cash and non-cash entitlements are at any given time. Therefore, sacrifice arrangements tend to be in place for at ...
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Learn all you need to know about salary sacrifice, including its benefits and drawbacks, from this detailed guide by M&G Wealth Adviser.
The article reports that the number of employers introducing salary sacrifice pension arrangements could increase because organisations are no longer required to offer a facility for additional voluntary contributions (AVCs). Currently the Revenue does not allow employees to do this and as such requires...
Learn how salary sacrifice can help cut National Insurance, the benefits for both employers and employees, what to watch out for, and how Penfold can help.
Pension contributions Charity donations Childcare vouchers Other salary sacrifice schemes, such as cycle-to-work schemes for bicycle purchase Simplify your payroll tasks Prepare your payroll more efficiently for accounts. Enable employees to change personal data themselves that HR approves. Working hours ...
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not describe it as salary sacrifice the situation is very similar - if you were previously taking all the spare profit out of the business as salary, you will now have to take a bit less salary so the business can afford the car, so it's salary sacrifice in everything but the name. ...
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