New job pension benefit, CTC affected?

rezarf

Hi,

I am about to start a new job, I have the option of using NEST pension or I can go with the employers pension benefit.

They say that they take the pension contributions from my gross annual pay which reduces the amount of NI I pay.

Will doing this affect the CTC we currently get?

Regards

Rezarf

xylophone

Does the OP mean a salary sacrifice scheme?

https://www.moneyadviceservice.org.uk/en/articles/salary-sacrifice-schemes

rezarf

xylophone wrote: »

Does the OP mean a salary sacrifice scheme?

https://www.moneyadviceservice.org.uk/en/articles/salary-sacrifice-schemes

...

this sounds exactly like it, although they don't call in salary sacrifice, just pension benefit and I think I will take advantage of parking benefit too.

zagfles

blondebubbles wrote: »

Are you sure it's not the tax that it affects rather than NI?

If it's salary sacrifice it will affect (ie reduce) both, also CTC will be based on the salary after the sacrifice.

rezarf

hi,

Having spoke with HR dept it is a salary sacrifice. Taking 6% of my gross salary.

However now i'm going to consider opting out and focusing on clearing my debt.

Thanks

Rezarf