Dalriada News

Mike Crowe

Featured Article

It’s no Sacrifice…

So sang Elton John on a track on 1989’s “Sleeping in the Past” album.  Before I get all Patrick Bateman, I will get to the point.  Much speculation took place before this year’s budget on whether Salary Sacrifice would survive much longer as a valid mechanism for facilitating pension scheme contributions. Looking back at my budget blog I wrote:

Salary Sacrifice lives to be beloved by HR and payroll departments (and of course employees) for a bit longer. It is in the Government’s crosshairs though and another consultation will look at its continued existence. Trustees should keep an eye on this and start early discussions with employers, should the Government head towards changes which would affect their schemes.”

Well the consultation was published on 10 August, and whilst for HR departments there is likely to be a bit of angst about the proposals in relation to remuneration and benefit packages there is good news for employers and employees (and lets face it, trustees too) in relation to pensions. (more…)