Does it affect Working Families Tax Credits?
The reduced cash salary paid to you (after the Pensions + payment is deducted from your salary) is the figure used when calculating your entitlement to these credits. You should think about any impact on these credits before you participate in Pensions +. You can also contact the Tax Credit Helpline on 0845 300 3900 for further information. 10. What is the catch? There is no catch. Like other salary sacrifice schemes approved by HM Revenue & Customs (Childcare Vouchers, the University bike scheme and others) Pensions + is exempt from tax and national insurance contributions. The scheme brings us into line with many UK organisations, including over 20 universities and trades unions and other European countries that have National Insurance schemes. 11. What will the University do with the savings it makes? It is intended that the money is directed back to faculties and schools but there are also ongoing discussion about a staff hardship fund and a staff disability fund.For more informati
