The Employee Benefits/Alexander Forbes Benefits Research 2012 has revealed the top benefits employees sacrifice salary to receive.
Around 90% of respondants offer some form of salary sacrifice benefit with health screening, pension planning and childcare vouchers topping the table. The benefits to employee are well documented but when you consider the direct and indirect benefits to the employer which include employers NI savings it is hardly surprising that salary sacrifice continues to be extremely popular and 2 recent developments seem set to add to this trend.
Funding pensions by salary sacrifice seems set to increase. Auto enrolment is looming and salary sacrifice is the simplest way to fund this whilst providing financial savings that can meet the small admin increase.
Salary sacrifice cars are predicted to be a huge boom area, the uncertainty over future BIK rates has long urged caution but with rates now published to 2016 employers can offer one of the most popular benefits for 25-45 year old’s safe in the knowledge the their employee will continue to enjoy savings of up to 35% on motoring costs.
Fleet Evolution work with customers from 40 – 4,000 employees to implement cost neutral low risk car salary sacrifice schemes, if you would like more information on the advantages of such schemes or even to discuss auto enrolment please contact us on firstname.lastname@example.org
To view the research please visit http://www.employeebenefits.co.uk/cgi-bin/item.cgi?ap=1&id=14817
Research reproduced with kind permission given by Employee Benefits magazine