Employer saving opportunity
By offering employees the opportunity to swap to a salary sacrifice Shared Cost AVC Scheme, you as the employer can save a sum equal to 14.3% 1Before fees of the total salary sacrifice amount
AVC Wise provides a fully managed solution to facilitate LGPS organisations across the country switch to salary sacrifice Shared Cost AVCs with expert tax advice, employee onboarding and contribution management through our innovative online portal.
1Before fees13.8% National Insurance Contribution savings and 0.5% Apprenticeship Levy savings where applicable.
Example #1:
A Council has 4000 employees who are LGPS members. With an assumed take up of 7% and an average monthly contribution of £200 per employee, the below savings are available:
Employer savings after fees
Employer savings per employee after fees
Employee National Insurance Contribution (NIC) savings on top of tax savings -assumes the employee has chosen to reinvest NIC savings.