Under a salary sacrifice arrangement, an employee gives up some of their cash earnings in return for new or increased entitlements to non-cash benefits provided by their employer. Apart from pension contributions, non-cash benefits include childcare vouchers, cycle schemes, travel, subsistence allowances and others.
Jakki Hill, Houlder
Opera 3 Payroll fully caters for salary sacrifice as standard. It calculates percentage based pension contributions and includes them within associated pension files and reports.
Key benefits of salary sacrifice in Opera 3 Payroll:
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