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Ordered blue with white interior with Knowles yesterday. £367 including 12k miles and everything except the electricity to run it. Thought that was a brilliant price!
I was amazed. I'm far more excited than a grown man should be!Brilliant price. Now wish we had gone for the LR.
Ordered blue with white interior with Knowles yesterday. £367 including 12k miles and everything except the electricity to run it. Thought that was a brilliant price!
Who’s got the cheapest deal via salary sacrifice?
the person who got £367 wins so far can they confirm if they work for the NHS?
ive got a feeling the nhs offer the best deals as it affects your pension contributions so they want you to take out a car, I could be wrong
ive got a feeling the nhs offer the best deals as it affects your pension contributions so they want you to take out a car, I could be wrong
Not all NHS trusts offer great deals, our trust is not great at all. The trusts are always looking to reduce costs so salary sacrifice is pushed alot, the pension costs the trust a massive 14.5% as employer contributions and rising to 20% next year!!!
Unless you take into account pension effects you simply cannot compare NHS 'deals' with non NHS ones.
The reason the impact is so big is because how generous the NHS pension is, even on the new 2015 scheme. Essentially you get an annual growth equivalent to 1/54 of your pre tax salary each year, compounded by a guaranteed inflation+1.5% growth.
For me that figure is scarly believable even if I forget my previous 15 years of contributions and started a new pension from scratch today at nearly 40 years old. Its probably one of the most valuable financial rewards for working in the NHS.
I've never met or seen a single independent pension advisor who would suggest opting out, but yet apparently opt out rate is more than double digits. Its so poorly explained most staff don't understand it, and when added with crippling moral problem in the NHS many just leave the scheme.
Should I opt out of the NHS pension scheme? What are its benefits? | This is Money
If you hit the cap you get a huge bill from HMRC and it's not particularly straightforward to calculate.
I have to say though having a pension pot so big/pay out so high to be taxed on it substantially with zero risk risk or effort from your part is what I would call 'a nice problem to have'.
Am 30 years away from retirement and apparently I'm already over the £40K/year pension pot tax free growth amount and I'll almost certainly get a big tax bill at retirement. At some point I may actually look into salary sacrifice to reduce my pension contributions, but given the state of the economy at present, been in a fortunately position of having a big + 100% guaranteed pension pot with no risk to me is something very comforting.
I have to say though having a pension pot so big/pay out so high to be taxed on it substantially with zero risk risk or effort from your part is what I would call 'a nice problem to have'.
Am 30 years away from retirement and apparently I'm already over the £40K/year pension pot tax free growth amount and I'll almost certainly get a big tax bill at retirement. At some point I may actually look into salary sacrifice to reduce my pension contributions, but given the state of the economy at present, been in a fortunately position of having a big + 100% guaranteed pension pot with no risk to me is something very comforting.
I don't think NHS salary sacrifice makes a difference when it comes to annual allowance pension calculations. Still counts as income in this circumstance. Not sure about lifetime allowance though.