Mintago’s CEO and Founder, Chieu Cao, has written an article for We Are The City on the government’s salary sacrifice pension scheme and why it should matter to SMEs.
Due to the pandemic, many businesses have struggled more than ever to function at their best. The impact on employees’ mental and financial health has been and continues to be significant. Adopting the salary sacrifice pension scheme as a way to save money on national insurance for both employers and employees could be very helpful to smaller businesses.
Currently, only 50% of SMEs are signed up for the scheme. Chieu considers the main reason for this to be a lack of awareness, accompanied by a fear that the scheme is difficult to implement.
Read the full article to find out more about the scheme, how it works and why smaller businesses should be considering it as a way to save money and improve financial wellbeing in the workplace.