Reduce Employer NICs: Salary Sacrifice Pensions
Save tens of thousands by lowering employer National Insurance costs, boost employees pensions, and take the hassle out of implementation – all with Penfold.
Penfold’s salary sacrifice solution provides a win-win for businesses and employees. Cut down on National Insurance costs, support employee financial well-being, and reduce the complexities of setup and compliance with our easy-to-use platform.
Employees can add more to their pension pots without reducing their take-home pay.
Lower employer National Insurance with tax-efficient salary sacrifice pension contributions.
From consultation to implementation and beyond, our team simplifies every step.
Book a no-cost consultation with our experts to discuss your business needs and the benefits of salary sacrifice.
We’ll create a custom salary sacrifice plan tailored to your business, designed to maximise savings for you and employees.
Our team will guide you through setup, paperwork, and communication, ensuring everything’s everything runs smoothly.
We offer continuous support, compliance checks, and detailed reporting to keep your salary sacrifice arrangements on track.
With Penfold’s salary sacrifice solution, a business with 50 employees can save £18,750 in National Insurance costs within the first year alone.
Based on the example above a practice could save 5 clients a total of £93,750 in National Insurance every year with Penfold’s salary sacrifice solution.
Our solution is designed to make life easier for accountants, helping them offer additional value to clients and streamline pension management. Penfold provides essential tools and resources that accountants need to demonstrate the value of salary sacrifice, save time, and stay compliant.
Show clients exactly how much they can save with our easy-to-use calculators.
Automated tools ensure that all salary sacrifice arrangements meet regulatory requirements, taking the stress out of compliance.
Access to webinars, in-depth guides, and live demos specifically tailored for accountants.
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
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
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 at Attest
Salary sacrifice allows a portion of an employee’s salary to go directly into their pension, reducing both employer and employee National Insurance contributions. Read more in our What is salary sacrifice? and Salary sacrifice for pensions explained articles.
Penfold provides all necessary documentation, reporting, and guidance to ensure your salary sacrifice setup stays fully compliant.
We handle the setup, paperwork, and communication with your employees, leaving you free to focus on other priorities.
Employers can save up to 13.8% on National Insurance contributions, with exact savings depending on employee participation and contribution levels.
There are pros and cons of using salary sacrifice to make pension contributions. Find out what they are in our Is salary sacrifice worth it? article.
We hate hidden charges. That’s why we have one fee that covers absolutely everything within our service.
Employees can see all their pension contributions in one easy-to-use dashboard and get a clear view of projected retirement lifestyle.
Employees can choose from a range of funds, managed by BlackRock and HSBC, to suit their financial goals.
