What is a salary sacrifice pension? A guide for employers

The federal government is keen to motivate people to preserve into private pension pots.

Due to the fact of this, some generous tax breaks are offered. A person of these, recognised as income sacrifice, can even gain the employer.

In this short article, we get a seem at income sacrifice pensions and how they function, and answer a series of inquiries you may possibly have about them.

Here’s what we include:

What is a income sacrifice pension?

Income sacrifice is a way of notionally minimizing a income to pay back for advantages made available by an employer.

These rewards are attractive to an employee, these as shelling out for an electric powered car, or making use of the Cycle to Operate plan to use a bicycle.

In some cases these are referred to as benefits-in-type, or BIK. Some BIKs are taxed, but some others are not.

Income sacrifice can also

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