Success Story

Salary sacrifice saves money for a business and its team

Doughty Street Chambers saved 13.8% in pension contributions. Their team were also delighted with their higher net salary. Here’s how we helped...

Before

Employees’ pensions were being processed from their net pay which was costing both the employer and employee more money.

Doughty needed to update their pension policy and documentation to reflect their new approach. They also needed to clearly communicate the changes to their team before it was introduced.

Doughty wanted the new approach implementing efficiently with minimal disruption to their team.

After

Hallidays Payroll team worked with Doughty to highlight the financial benefits for the business and their team of using salary sacrifice for pension contributions.

Hallidays HR provided advice on their pension policy and documentation. Hallidays Wealth Management ran a seminar for everyone providing understanding and peace of mind.

Hallidays Payroll team changed the systems to ensure the wages and pension contributions were accurate and there was no disruption to the business.

Outcome

Using salary sacrifice for pension contributions reduced all employees’ gross salaries. This saved the company 13.8% on pension contributions which could be used to grow their business.

Their team are delighted with a higher net pay every month thanks to lower deductions for Income Tax and National Insurance. The Hallidays seminar gave them a greater understanding of how their pension is helping prepare for their retirement.

Hallidays Payroll team ensure changes to salaries are calculated accurately using the new process, leaving their Head of Finance to focus on the business.

What the client said

Hallidays handled all steps of the process very efficiently. The documents they provided gave our team members clarity and peace of mind. Hallidays ran three sessions of the seminar for different groups of teams and everyone found them helpful.

Andreas Michaelides Head of Finance - Doughty Street Chambers
Awards