The Benefit of Salary Sacrifice Pensions

I recently went through an interesting exercise at work and wanted to share the findings here. Essentially, my company don’t offer salary sacrifice pension contributions and I wanted to persuade them to consider it!

As you can probably tell, I’m bit of a personal finance nerd! I created a document showing the benefits of salary sacrifice to both employer and employees. I even added some Sankey Diagrams to demonstrate the difference it would make!

The information below shows what I submitted to my employer. Hopefully it will help explain the different pension contributions as well as giving you inspiration to request similar changes from your own employer!

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Monthly Spending – May 2020

Summary 

As lockdown continues, our May spending has been significantly impacted. We love seeing those zeros in the Transport category!  

Our total spend for the month was £1,700. This is well within our £2,000 target again. 

We break our main expenses down into broad categories starting with the big 3; housing, food and transport. Everything else falls into the entertainment category, with any large inclusions explained in detail.  

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