Hi Simon, would you be able to do some more videos on RSUs which are traded in dollars and converted to pounds? I am finding it difficult to do my CGT calculations. Thanks !
Would another disadvantage be for those in DB/Final Salary/Career Average pension schemes where a salary sacrifice would harm the final pension to be received?
@@johnporcella2375 hi John, yes indeed DB scheme would be impacted as salary sacrifice will reduce earnings and therefore reduce pension benefits paid in retirement. As times goes on the number of employers (In the private sector) offering DB schemes of course is decreasing
It will depend upon the definition of Pensionable Salary and Final Pensionable Salary in the individual scheme so won't necessarily reduce benefits. You can ask for worked examples of the differences if the employer is proposing it and always take financial advice.
Are we saying that the employee is going to opt out of the company pension? Then the company puts the full amount ie your 5% plus their % into your pension scheme. Are we needing to set up a private pension scheme to do this instead of the usual company Nest style pension. And then its ok for a salary sacrifice to be paid into the private pension? Is tgat how it works, sounds complicated for the company.
No need to set anything else up, the total contribution amount is the same, it's the entire contribution that is borne by the company. If it's a DC or Money Purchase scheme, the contributions are invested in an individual member account to be used at retirement as they would be without salary sacrifice.
Hi Simon, would you be able to do some more videos on RSUs which are traded in dollars and converted to pounds? I am finding it difficult to do my CGT calculations. Thanks !
Very recently done this myself, how long before the government remove this 'loophole' to increase their NI take?
Would another disadvantage be for those in DB/Final Salary/Career Average pension schemes where a salary sacrifice would harm the final pension to be received?
@@johnporcella2375 hi John, yes indeed DB scheme would be impacted as salary sacrifice will reduce earnings and therefore reduce pension benefits paid in retirement. As times goes on the number of employers (In the private sector) offering DB schemes of course is decreasing
It will depend upon the definition of Pensionable Salary and Final Pensionable Salary in the individual scheme so won't necessarily reduce benefits. You can ask for worked examples of the differences if the employer is proposing it and always take financial advice.
Are we saying that the employee is going to opt out of the company pension? Then the company puts the full amount ie your 5% plus their % into your pension scheme. Are we needing to set up a private pension scheme to do this instead of the usual company Nest style pension. And then its ok for a salary sacrifice to be paid into the private pension? Is tgat how it works, sounds complicated for the company.
No need to set anything else up, the total contribution amount is the same, it's the entire contribution that is borne by the company. If it's a DC or Money Purchase scheme, the contributions are invested in an individual member account to be used at retirement as they would be without salary sacrifice.