Pension Salary Sacrifice: What the Changes Mean for Employers?

This article was produced by Grant Thornton, a member of IPFA. 

The Autumn Budget introduced a significant change to workplace pension saving: from April 2029, employer and employee NICs will apply to salary-sacrificed pension contributions above £2,000 a year, effectively ending the long-standing NIC exemption that has made salary sacrifice one of the most efficient ways to save for retirement. This article explores what the changes mean and how employers can prepare.

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