What it offers your employees
A great way to save for their retirement
Pensions have one very important advantage over other ways of saving for retirement - they're incentivised by the taxman. In fact, the taxman is very generous when it comes to personal pensions, adding to your employee's pension every time they pay money in.
Every £80 your employee pays in is topped up to £100, giving their savings an immediate boost of 25%. And higher rate taxpayers can get even more.
Plus, on top of the tax relief they receive each time they pay into the pension, all the money they've saved, including the payments from you, grows virtually tax free over the years*.
Please remember future governments may increase or decrease the amount of tax relief they get.
*There's a tax on dividend income from UK shares, which pension funds aren't able to reclaim