Presentation to find out more about salary exchange
London Business School is introducing a ‘Salary Exchange’ method for paying pension contributions. Salary Exchange is a tax efficient way of making pension savings.
Contributions to the School’s pension arrangements will be paid via the ‘Salary Exchange’ method from 1 June 2016 unless you elect otherwise.
How does Salary Exchange work?
At present your pension contributions are deducted from your pay after National Insurance Contributions (NICs) have been paid.
Under the Salary Exchange arrangement your basic salary will be reduced before NICs have been paid, by the amount you contribute to the pension. The School will make a contribution of that amount to the pension on your behalf. This will result in NIC savings for you and the School.
For most employees this NIC saving will result in an improvement to take home pay. The School’s NIC saving will go some way towards helping to pay for the significantly increasing costs of maintaining the pension arrangements for staff and faculty.
More information - Thursday 19 May 2016
Jon Beer, our appointed Senior Consultant from independent pension consultants Punter Southall Aspire will be visiting the School on Thursday 19 May to deliver short presentations and answer any questions you may have.
USS members are welcome to attend a session at either 11.30 (in LT2) or 15.30 (in LT4). Please register here.
Scottish Widows members are welcome to attend a session at either 10.00 or 14.00 in LT2. Please register here.