Reduce Employer NICs: Salary Sacrifice Pensions
Reduce National Insurance costs, boost employee pension pots, and let us handle the hard work – whether you’re an employer or an accountant supporting clients, Penfold makes salary sacrifice simple.
Salary sacrifice can feel complex – but we make it easy. Penfold delivers a fully managed solution that cuts costs, improves employee benefits, and saves hours of admin time.
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.
We’ll assess your business or client needs and walk you through potential savings.
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 support, compliance checks, and reporting to keep your salary sacrifice arrangements on track.
Case example for a business with 50 employees and a £50k average salary.
With Penfold, a business could save £18,750 in the first year alone through reduced employer National Insurance contributions.
Introduce Penfold to five clients like this and you’ve helped save £93,750 – while adding serious value to your service.
Penfold gives you the tools to easily explain, offer, and manage salary sacrifice for your business:
To see exactly how much your business could save.
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.
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.
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 handle the setup, paperwork, and communication with your employees, leaving you free to focus on other priorities.
Penfold provides all necessary documentation, reporting, and guidance to ensure your salary sacrifice setup stays fully compliant.
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.
