Do I need to make Bonus Sacrifice decision without knowing value of bonus?

SouthCoastBoy

I always experienced this with my previous employer. Instead of putting it into my workplace pension I put it into a sipp. Cost a bit of ni but gave me more flexibility 

westv

SouthCoastBoy said:

I always experienced this with my previous employer. Instead of putting it into my workplace pension I put it into a sipp. Cost a bit of ni but gave me more flexibility 

Ours adds an additional 5% if we bonus sacrifice.

junglemonster

Thanks all. It’s sad that they’re saying it’s stipulated by HMRC when in reality there are no such rules.

Normally I wouldn’t have such an issue with the blind decision making. But this year, I’m trying to balance it with childcare allowance thresholds and reduced household income due to my partner being on maternity leave.

ex-pat_scot

our bonus sacrifice selection closes today.
We have been told the amount of bonus, and can select the % to sacrifice.
We also get an additional 10% of the bonus if we sacrifice into pension ie my £5000 bonus becomes a £5500 pension contribution. (this reflects the ers NI that would be paid, were it to be taken as cash)

Smudgeismydog

We were also given an NI uplift on bonus sacrifice which reinforced my decision to sacrifice 100%