Will salary sacrifice changes hail the end of work perks?

clock • 3 min read

When the government announced the proposed changes for salary sacrifice in the Autumn Statement last year, it felt like the end of workplace benefits, writes Jeff Fox.

Indeed, Aon's post-Autumn Statement seminar, set up to answer questions about the long-anticipated salary sacrifice changes, polled nearly 90 HR and Reward professionals and found 71% were concerned about the impact of salary sacrifice erosion.  Some 50% expressed concern that the changes would not be understood by employees.   Much of the media reacted by declaring the end of salary sacrifice, and the demise of all work perks. Under government's proposals, employers will no longer save National Insurance when an employee elects to sacrifice parts of their salary for benefits such ...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Employee Benefits

Reframe Cancer appoints new COO

Reframe Cancer appoints new COO

Professor Ben Kelly takes the role

Cameron Roberts
clock 24 April 2025 • 1 min read
Towergate's Lindsay Kenny joins Broadstone

Towergate's Lindsay Kenny joins Broadstone

Delivering employee benefits support for SMEs

Jaskeet Briah
clock 23 April 2025 • 2 min read
Mental health is the biggest concern for half of employers

Mental health is the biggest concern for half of employers

Towergate research findings

Jaskeet Briah
clock 22 April 2025 • 2 min read