Taxation paper: company car taxation

Workplace savers are getting much-needed help from a Money and Pensions Service-inspired coalition of employers, policymakers and industry stakeholders intent on tackling a persistent problem.

Changes to salary sacrifice pensions are coming in 2029. While the benefits they offer to employees and employers will still ring true, there are some important implications to consider. Here’s how to maximise the benefits before the changes take effect – and what you need to know to prepare for what’s ahead.

Salary sacrifice is often viewed as a pensions-only mechanism. But if you’re looking for ways to stretch budgets further, support employee wellbeing and create long-term cost stability, it’s worth looking again. The opportunities extend beyond pensions, and many employers are finding that big savings come from areas they hadn’t previously considered.

When used well, benchmarking provides a clear external reference point for internal pay decisions and helps maintain a balance between competitiveness, fairness and affordability.

As pay constraints continue to dictate the employment landscape, budgets are feeling the squeeze as increasingly expensive benefits are stretched to fill the gap.

Many HR and benefits teams are finding the traditional standalone life trust model increasingly unwieldy and difficult to maintain.