When Employees Pay Less than the NIC Certification

When Employees Pay Less than the NIC

Arrangements for pension-related salary sacrifice have become common over the years. They benefit employers and employees alike; however, certain measures should be taken into account when making the arrangements for protection.

Bonus or salary sacrifice arrangements changed in April 2017. However, arrangements related to pensions and related advice, cycle-to-work and childcare under employer support were exempt from the changes.

This course covers salary sacrifices associated with pension contributions.

Firstly, we define the term salary sacrifice and illustrate how it works. The course states various tax-exempted benefits that can also be used with the arrangement.

Next, it explains in detail how salary sacrifice can benefit both employers and employees. It also covers how the arrangement can impact other employee benefits.

The course goes on to explain the role of employee agreement or consent in salary sacrifice. It explains the role of the employer and employee in implementing salary sacrifice and what usually happens. The role of HMRC and pension scheme trustees are also covered.

Finally, we provide information on defined contribution and personal pension and how it can be used with the arrangement.