Seamless Integrations
Save time and reduce admin by integrating your payroll software with Thrive Pensions & Benefits, ensuring smooth, automated pension contributions
Boost Employee Benefits with Salary Sacrifice
Save on National Insurance & Maximise Pension Contributions
Salary Sacrifice vs. No Salary Sacrifice
(April 1st NI Increase)
With employer National Insurance (NI) rising from 13.8% to 15% on April 1st, businesses will face higher payroll costs. Here’s a clear comparison of how implementing a Salary Sacrifice Pension Scheme can generate significant savings for an average-sized business.
Example: A Business with 100 Employees
Cost Comparison
With vs. Without Salary Sacrifice
Scenario
Without Salary Sacrifice
With Salary Sacrifice
Total Payroll Cost
£3,000,000
£3,000,000
Employer NI (15%)
£450,000
£437,250
Salary Sacrifice Contributions
£0
£75,000
New Employer NI (15% on Reduced Salary)
£450,000
£426,000
Employer NI Savings
£0
£11,250 per year
Get Free Salary Sacrifice Guide
Thrive can help you implement salary sacrifice quickly and seamlessly, ensuring compliance while maximising savings. Complete Your Details to Get your Guide Today!
How Does Salary Sacrifice Work?
Salary sacrifice (also known as salary exchange) allows employees to exchange part of their salary for pension contributions, reducing their taxable income. As a result, both employers and employees payless in NI contributions—a win-win for your business and your team.
Lower Employer NI Contributions - Immediate cost savings for your business
Higher Employee Pension Contributions – Increased retirement savings at no extra cost
Improved Recruitment & Retention – Attract and retain top talent with enhanced benefits
Tax-Efficient & HMRC-Compliant – Fully approved and easy to implement
Minimal Administration – Seamless setup with expert support
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