pm215: (Default)
pm215 ([personal profile] pm215) wrote in [personal profile] simont 2007-01-02 10:11 am (UTC)

Our company has a convenient pension arrangement which goes by the slightly alarming name of "salary sacrifice": instead of you paying 3% contributions (say), you agree to have your salary reduced by the equivalent amount, and the employer pays a higher employer's contribution instead. This also reduces the employer's NI bill, so they split the difference with the employee. As a side effect there's no need to reclaim tax on pension contributions because you aren't making any.

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