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 15.5% 1Before fees of the total salary sacrifice amount
1Before fees15.05% National Insurance Contribution savings and 0.5% Apprenticeship Levy savings where applicable.
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