Finance Salary Take Home Pay 
Employee Benefits
SEPTEMBER 14, 2023
They are paying 5% of their salary into a pension via a salary sacrifice arrangement, and their employer is paying 3%. Example 1: Sam[1] – Basic rate tax payer, earning £20,000 per year The employee increases pension contributions by 1% of salary which is matched by the employer.
Employee Benefits
JULY 25, 2023
Defined benefit pensions guarantee a specific retirement income based on factors like salary and length of service. However, if you’re an HR or Finance Lead tasked with selecting a new workplace pension, you might need a dedicated account manager who can assist with staff onboarding and implementation. How is the Scheme Managed?
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Employee Benefits
SEPTEMBER 6, 2023
Colleagues can access information about everything on offer, as well as self-serve additional salary sacrifice options such as additional pension contributions, family private medical insurance, holiday purchase and cycle to work, and instantly see how this will impact their take home pay.
Employee Benefits
SEPTEMBER 16, 2024
Those who have accepted the pay deal are part of unions Unite and National Union of Rail, Maritime and Transport Workers (RMT), while those represented by Transport Salaried Staffs Association (TSSA) and Associated Society of Locomotive Engineers and Firemen (ASLEF) are still conducting member referendums on the offer.
Employee Benefits
APRIL 22, 2024
The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result. A salary sacrifice arrangement can support employees who are dealing with the impact of fiscal drag. Employers should ask employees about their financial pressures to understand how to support them.
Griffin Benefits
JUNE 29, 2023
contains dozens of changes to retirement plans, but perhaps none bigger than these two: New 401(k) and 403(b) plans will be required to automatically enroll participants in the respective plans, and employee salary deferral rates will automatically escalate each year. The SECURE Act 2.0 THE SECURE ACT 2.0 THE SECURE ACT 2.0
Employee Benefits
JULY 6, 2023
That’s why at Penfold we love working with companies on the implementation of Salary Sacrifice. In a nutshell, this mechanism allows employees to maintain their pension contributions and even enjoy a slightly higher take-home pay. Is your provider helping with this?
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