Remove Salary Sacrifice Pension Schemes

Remove Salary Sacrifice Pension Schemes

Salary Sacrifice pension schemes are legal on the IOM
 
This allows staff to agree a salary sacrifice and the amount paid into their pension scheme
 
Normal pension contributions are not liable to tax, however the sacrifice scheme
circumvents NI contributions
 
Only a small number of employers do this and with pressure on the NI fund and it is
suggested it is removed
 
Idea received via email - Site Moderator

Why the contribution is important

 

As above.

 

by MelindaIOMGov on May 16, 2017 at 02:32PM

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