Salary Sacrifice contribution cap?

JCB20

My employer matches contributions up to 10%

However as I approach retirement I'm pay more than 10% to get the tax break

sterlingstash

JCB20 wrote: »

My employer matches contributions up to 10%

However as I approach retirement I'm pay more than 10% to get the tax break

But you can salary sacrifice more than 10% if you want to, just without any further matched contributions?

mania112

sterlingstash wrote: »

For those of you who's firms allow you to make pension contributions via salary sacrifice - do they put a cap on the amount you put in (either absolute or a percentage) other than the requirement not to go below national minimum wage.

We have a 10% limit and I'm wondering if I could make the case to increase it, as with little in the way of employer contributions on top, this seems low for adequate retirement planning and may be discouraging sensible contribution levels.

I wouldn't be surprised if your firm have simply given the salary sacrifice cap the same cap as the pension contributions - not realising that some might wish to go 'above and beyond'.

gadgetmind

I currently sacrifice 65% of my pensionable income (I also have some non-pensionable allowances and bonuses) and my only issues are annual allowance, carry forwards, etc.

My employer won't put in any more than 7% but does give me a 10% boost on my contributions as a thanks for saving them 13.8% employer's contributions.

ukjoel

we get a 15% employee contribution and can sal sacrifice up to any level. Think the highest I have gone is 45%.

Any sal sacrifice benefits from NI added to your contributions by the company.