For employers
- Savings calculators to forecast NI savings
- Automated payroll and reporting tools
- Branded communications and onboarding handled for you
Why salary sacrifice?
Salary sacrifice pensions are one of the easiest ways for you to save money and reward your employees. With Penfold, you get a modern, fully managed setup that saves money for your business and your employees.
Lower business costs
Reduce employer NI contributions and reinvest the savings where they matter most. For example: a 50-employee company can save over £18,500 per year on employer NI.
Better employee benefits
Employees can add more to their pension pots without reducing their take-home pay. NI savings offset the sacrifice.
End-to-end expert support
From planning to launch, our team helps make salary sacrifice straightforward. We provide free implementation support, including guidance on payroll setup, employee communications and ongoing scheme administration.
See what your business could save
Here’s an example of the potential employer National Insurance savings from salary sacrifice, based on a business with 50 employees earning £50,000 each.
This example assumes all employees participate and the employer retains 100% of the NI savings. Employers can choose to share some or all of these savings with employees through additional pension contributions.
- For Employers:
A business could save up to £18,750 a year in employer National Insurance contributions, equivalent to £375 per employee.
This example assumes all 50 employees participate and the employer retains 100% of the NI savings. Employers can also choose to share some or all of these savings with employees through additional pension contributions.
- For Advisers:
Help five clients of this size introduce salary sacrifice and you could help them unlock up to £93,750 in combined annual employer NI savings, depending on their arrangements.
How it works in 3 steps
Plan it
We run a free consultation to assess your payroll and NI position, and create your tailored salary sacrifice plan in days.
Switch it
We manage the provider switch, work with your payroll team, and test everything before launch. No downtime, no payroll errors. Just a smooth service from the very first pay run.
Run it
See your NI savings from the first payday with Penfold. Then sit back and relax knowing we’ve got you covered, handling compliance, re-enrolment and any employee queries.
Built for employers and advisers
Whether you run payroll in-house or support clients, Penfold’s platform makes salary sacrifice easy.
For advisers
- White-label setup for your clients
- Branded employee onboarding resources
- Expert support for scheme admin
Success stories
At Amplifi Capital we’re committed to investing in our colleagues and supporting their financial well-being. As part of a review of our workplace benefits, one of the steps we’ve taken is switching to Penfold’s salary sacrifice pension scheme. Moving to Penfold helps us to continue to invest in our people whilst reducing employer NICs.
Lisia
CFO at Amplifi Capital
Penfold helped us to understand salary sacrifice really well. We had an overview meeting, were sent FAQs and Penfold also hosted a Pension Workshop to take our teams through the platform & salary sacrifice which was really helpful. The transition process is very straightforward and the team at Penfold do a super job at explaining each step.
Michelle Kangellaris
Director of People & Culture at Glint
