Scottish Life has launches advice on new pensions solutions, salary sacrifice schemes.
The company claims such initiatives would be "attractive" and "cost-effective", enabling both employers and employees to have a financially-neutral position.
Salary sacrifice schemes can run alongside existing pensions offerings and offer people a way to increase their contributions .
Commenting on this new development, Jamie Clark, occupational pensions marketing manager at Scottish Life, said: " Salary sacrifice is enjoying something of a renaissance, with many large employers in the UK now offering this as part of the benefits package."
He added that, while a reduction in salary may seem unattractive, initially an arrangement can be reached were employees' take home pay remains the same but their pension contributions rise.
Meanwhile, the National Association of Pension Funds recently advised that company pensions are the way to best prepare for retirement .
The body's senior policy advisor Michelle Lewis said members of such schemes enjoy tax relief on their contributions in addition to employer contributions.
Scottish Life advises on salary sacrifice schemes
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Scottish Life advises on salary sacrifice schemes
Wed, 27 Aug 2008
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