Give your staff a 1.5% pay boost at zero extra cost!
It's easy to boost staff take-home pay and pensions at zero extra cost to your business:
- Employers save £227* per employee
- Employees keep £198* extra in take-home pay
Find out exactly how much your business could save. Book your free, no-obligation consultation today.
*Based on £33k median salary (Source: ONS 2021/22)
Salary Sacrifice Benefits
59% of small and medium enterprises don't offer salary sacrifice and are losing out on £10,000s each year.
Reduce Tax Bills
Implement salary sacrifice and reduce your business National Insurance tax bills by c.7%
Boost Take-Home Pay
Increase employee take-home pay by almost 1% (or £198*) at zero extra cost
Retain Top Talent
Pass on savings and use salary sacrifice to reduce the cost of pay and benefit rises by 30% to 40%
Free consultation and easy implementation
Within a couple of free, no-obligation, consultation calls we help businesses understand how they can save thousands for themselves and their employees.
When it comes to salary sacrifice implementation, we make it easy by doing the heavy lifting:
We run a salary sacrifice explainer webinar for employees and answer any questions from staff.
We provide a straightforward form which can be filled out by each employee wishing to opt in to the scheme.
We help businesses write a letter of agreement to be sent to each employee to authorise opt-ing in to the scheme
We update, each month, any additional employees who wish to be opted into the salary sacrifice scheme.
“Salary Sacrifice enabled our team to save more of what they earn. This has been extremely important recently with the ever increasing cost of living.
The business being able to benefit from employer savings is also a win. Savings can be used elsewhere or passed back to the team to further enhance staff benefits,
There are many benefits to Penfold, from being able to offer a Salary Sacrifice scheme, easy to use app and instant access to pension information, simplifying pension jargon helping our teams better understand pensions, great support via the helpdesk, along with a very straight forward set up / transition when moving on from our previous provider.”
Michelle Kangellaris, Director of People & Culture, Glint
"Before Penfold, our pension scheme just wasn’t fit for purpose. We weren’t able to offer salary sacrifice and all employees who were earning above the basic tax rate had to claim back directly from HMRC"
Now, our employees are benefiting from a scheme that gives them full visibility into how much they’re saving, where their pension is invested in and that ultimately allows them to self-serve wherever possible.
The support offered by Penfold on the implementation and day-to-day support has been superb, and reduced the amount of work that the finance team had to do previously."
Mobeen Rasheed, Head of Finance, Attest
Salary sacrifice explained
What is salary sacrifice? Salary sacrifice is a government scheme designed to help employers and employees reduce their tax bill by swapping part of their salary for another benefit. Read more in our What is salary sacrifice? article.
What is a salary sacrifice pension? A salary sacrifice pension allows an employee to swap part of their salary in exchange for higher pension contributions. Read more in our Salary sacrifice for pensions article.
Employer benefits of salary sacrifice: The primary benefit is cutting a company's tax bill as salary sacrifice reduces the amount of National Insurance a company owes.
Employee benefits of salary sacrifice: The biggest benefit is helping employees keep more of what they earn by reducing National Insurance contributions.
