Fidante Benefits Package

The higher the level of contribution you choose to make using Salary Exchange, the greater the savings become.

Why does Fidante offer Salary Exchange?

Fidante is absolutely committed to offering employees a market leading pension scheme. Salary Exchange is an efficient way of pension contributions.

How can I calculate my own contributions and tax savings?

To help, a Salary Exchange calculator is provided along with this Guide.

Can I increase the regular contribution I pay using Salary Exchange?

Yes, and as the contributions you exchange are not subject to National Insurance, the more you contribute the more you save.

Do I have to pay my Pension Contributions using Salary Exchange?

No, although if you choose not to pay your contributions using Salary Exchange, you will miss out on valuable savings (and have the responsibility to reclaim higher rate tax relief if it applies to you).

Who is eligible to make Salary Exchange contributions?

You are eligible to make Salary Exchange contributions – as long as your post-exchange salary is greater than £22,308 (full-time equivalent). This is equivalent to £11.44 per hour, assuming a 37.5 hour week. This ensures that the National Minimum Wage levels are adhered to. In addition, there is absolutely no advantage in reducing actual pay below the Tax-Free Annual allowance (£12,570 in 2024/2025). If earnings do reduce below this level, zero tax relief may apply, and in these circumstances, it would be better to continue with the conventional contribution method.

How much can I contribute via Salary Exchange?

You can exchange as much as you wish, as long as the total Pension contributions are within HMRC limits and your remaining salary is above the £22,308 minimum requirement.

Can I exchange any future discretionary Bonus Payments too?

Yes – discretionary Bonus payments can also be Exchanged for Pension Contributions. Here, Fidante will generously increase the value of your contribution by a valuable 13.8%. More details will follow ahead of any future bonus payments.

What will be shown on my payslip as a result of making Salary Exchange contributions?

Your payslip will continue to show your full, pre-exchange Salary. It will also show the deduction for Salary Exchange, the reduced amount of tax and NI payable and your take home pay.

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