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Salary Sacrifice Query and Help Needed
Comments
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Good idea because the limit on SS is that your salary can’t be reduced so that it is less than National Minimum Wage (£9.50 per hour).0
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Assuming the employer has not set tighter rules in their scheme.
Often, the amount of matched contributions is capped and that may be misunderstood as the maximum.0 -
My employer calls everything in addition to the 5% an AVC.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
Apparently the scheme is "capped" at 5% which is a bit annoying.
Is it common that the capping is misunderstood as maximum?0 -
Is this a big company?A cap on how much the employer contributes makes sense but they should allow additional employee contributions via SS it would save them employer NI (unless they generously passed this on as well).0
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Its pretty big, its global and has at least 500 employees in our city.0
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