Pension Salary Sacrifice
sternjohn662200
Posts: 64 Forumite
Hi,
I currently have a pension at work where my employer contributes 5% into my pension pot. With the changes taking place i now contribute 2% via salary sacrifice to meet the required targets for now and will contribute 4% next april when the next changes occur.
In terms of salary sacrifice how does this work. We receive a yearly bonus each year so will 2% also be deducted from that amount or does it only apply to salary?
Many Thanks
John
I currently have a pension at work where my employer contributes 5% into my pension pot. With the changes taking place i now contribute 2% via salary sacrifice to meet the required targets for now and will contribute 4% next april when the next changes occur.
In terms of salary sacrifice how does this work. We receive a yearly bonus each year so will 2% also be deducted from that amount or does it only apply to salary?
Many Thanks
John
0
Comments
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I pay into my pension through salary sacrifice. I also get an annual bonus, none of the bonus gets sacrificed. My employer also doesn't contribute a percentage of my bonus to my pension.
I imagine yours will work the same as mine, though to be sure you can always ask your payroll department.0 -
Depends entirely on what you've agreed with your employer. Check with HR or payroll as you aren't sure.0
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sternjohn662200 wrote: »In terms of salary sacrifice how does this work. We receive a yearly bonus each year so will 2% also be deducted from that amount or does it only apply to salary?
Employer's choice/discretion. Ask them.
I asked my employer to sacrifice the whole of the recent bonus I got (in addition to the regular amount.) Had I not asked, none of it would have been.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0
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