Welcome to 'Pensions Plus'

‘Pensions Plus’ is a salary sacrifice scheme where you give up part of your salary, and in return your employer makes equivalent pension contributions on your behalf.

This means your take home-pay is higher as you pay lower National Insurance (NI) contributions.

Your employer does not have to pay their NI contributions on the part of your salary that you sacrifice. The amount paid into your pension is unchanged.

Importantly, ‘Pensions Plus’ does not affect the amount of pension that you build up.

Pensions Plus takes advantage of current pension, tax and NI law to benefit you. Currently, without Pensions Plus, both you and the Company pay NI on your salary before deduction of your own pension contribution.

With Pensions Plus, rather than paying your pension contribution from your basic salary, the Company pay that contribution into the Scheme on your behalf before paying your salary.

Both you and the Company pay lower NI contributions and your take-home pay increases.

Importantly, Pensions Plus does not affect the amount of pension that you build up.

“Both you and the Company pay lower NI contributions and your take-home pay increases.”