You could be saving Thousands, whilst delivering a better Pension.

But why do Auto-Enrolment Pensions matter?

So, what is an Auto-Enrolment Pension?‍

‍Under Auto-Enrolment, an employee joins a qualifying pension, from which they can elect to opt out. Many businesses used the simplest pathway to ensure their compliance, as contribution rates initially totalled only 3%.

The minimum contribution rate for workplace pension schemes is now 8%.

That’s an increase of 5% of total qualifying earnings since they were introduced at 3% in 2012.

The choice of scheme was originally limited for larger, early staging employers. This means employers may be using a scheme that is not optimal for them or their employees.

The established and compliant ways by which contributions can be made are:

Relief at Source Pensions

Relief at Source Pensions enable employees to contribute to their pension from their net (after-tax) pay. When contributions are made, the pension provider claims basic-rate tax relief (currently 20%) from HMRC on behalf of the employee and adds it to the pension pot. For example, for every £80 contributed, an additional £20 is added, making the total contribution £100. Higher-rate taxpayers can claim additional tax relief through their self-assessment tax return.

This method ensures that all taxpayers, including those who do not pay income tax, can benefit from tax relief on their pension contributions.

Salary Sacrifice Pensions

A Salary Sacrifice Pension is a scheme in which an employee agrees to reduce their gross salary in exchange for their employer making equivalent contributions to their pension. This arrangement allows contributions to be made from pre-tax income, resulting in immediate tax relief for the employee, as they only pay income tax on their reduced salary. The employee benefits from increased pension savings without a significant impact on their take-home pay. Additionally, both the employee and employer can save on National Insurance contributions, further enhancing the value of the pension contributions.

The employer’s NIC saving can be deployed as the employer chooses.

Each scheme reset reflects the client’s requirements and varies depending on scheme data. Assessing the value to an employer is achieved by simple data analysis. This can add profit directly to the bottom line of the employer.

As part of Pension Point’s process, a scheme audit will be provided to demonstrate due care has been taken in the selection and ongoing management of the existing and replacement scheme.

Calculate your Savings here.

Estimate how much your business can save in a matter of seconds with our instant quote. All you need to do is input is your average annual payroll figure and your number of employees and our calculator will do the rest!

Please note, these figures are estimates and may be subject to change.

We let

Our Numbers speak for themselves.

We help individuals and companies understand their pensions.

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Service Guarantee

We will save your company up to 3% of your total payroll costs.
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Compliance Certainty

We ensure you are meeting your legal Auto-Enrolment responsibilities as an employer.

£0 Cost

Zero Cost

There is no initial cost for migrating over to the service and if you feel that Pension Point is not right for your company, there will be no further costs.

End-to-end support helping you.

We guide you through every step of the process. From your initial enquiry, to seeing the increase in your bottom line balance.

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Deliver a better Pension

That is fit for purpose, puts your employees and improves your bottom line.

Save money every month

By rebooting your tired and underperforming auto-enrolment scheme and start saving money day one.

Enhance your Employee's benefits

In a time where money is tighter than ever, you can release funds back to your employees.

Improve the morale of your staff

By showing them that they are what makes your business work, and rewarding there commitment to your business with an optimised pension that saves them and you money.