A perk for employees: Save up to £310 on pensions advice.

A perk for employees: Save up to £310 on pensions advice.

Brought in in November last year pension advice vouchers are a government initiative similar to childcare vouchers and cycle to work.

Employees are entitled to swop up to £500 of their salary each year for a pension advice voucher. Depending on the level of the employee’s salary the voucher costs them as little as £190 with tax and NI savings.

Until now this has gone largely unnoticed and there are currently few companies offering this benefit to employees.

The vouchers cover financial and tax issues relating to “pension arrangements or pension funds, allowing individuals to make informed decisions about saving for their retirement” according to HMRC.

Advice can cost more than £500 in which case the balance is taxed and incurs NI as normal.

Are you aware of this scheme, would you like to know more about how we can help you and your business? Then please contact sarah@winchesterbourne.com or call 01962 715671

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