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
We guide you through every step and take of the admin from consultation to launch. We take care of payroll set up and integration, employee comms, ongoing account management and compliance.
Your savings in action
Here’s an example of what salary sacrifice could mean for your business:
Example: 50 employees, £50k average salary.
- For Employers:
With Penfold, a business could save £18,750 in the first year alone through reduced employer National Insurance contributions. That’s £375 per employee staying in the company account.
- For Advisers:
Introduce Penfold to five clients like this and you’ve helped save £93,750 – seriously strengthening your advisory offer, creating better relationships and earning you referral income.
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
