It can also provide you with a powerful opportunity to drive home the importance and increased value of the work-based pension scheme alternatives to the National Employment Savings Trust (NEST).
Salary exchange may not be suitable for everyone. We recommend your clients get professional advice if they need more information on salary exchange.
It's an arrangement where employees agree to give up some salary or bonus. The amount given up is used by the employer to provide a non-cash benefit to the employee.
As the employee is being paid less gross salary the employer makes National Insurance Contribution (NIC) savings and the employee pays less tax and NICs.
Use our handy tool to work out the savings and produce individual employee statements.
If you have a question that we haven't covered, you can email us and we'll do our best to find out the answer and let you know. We may also update our Questions and Answers.
You can also contact your usual Royal London representative for further information.