Benefits to employee
An effective pension scheme is an important perk which is always greatly valued by employees.
Some benefits of workplace pension to employees:
- Easy access to a savings vehicle to help save for retirement.
- Benefit from employers pension contributions.
- Benefit from income tax relief. In general, a basic rate tax payer will recieve 20% income tax relief, whearas, a higher rate taxpayer will recieve 40% income tax relief.