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Your pension at Sellick Partnership
A pension may form part of your long term financial planning with a personal pension being paid on top of the state pension when you retire. In 2012 the Government introduced plans for auto-enrolment to help employees plan for their retirement.
- Sellick Partnership scheme
We currently operate a salary sacrifice scheme which is a tax efficient way to make contributions into your pension plan. You agree to give up part of your basic salary (not including car allowance or commission) which is paid directly into your pension. The amount is taken from your gross salary and means you don’t pay tax or National Insurance on that amount. A salary sacrifice does not allow you to sacrifice your salary below any national minimum or living wage rates.
The Sellick Partnership scheme is run through Royal London who are the largest life and pensions mutual in the UK based in Wilmslow, Cheshire. You will be able to manage your pension directly through an online portal. Information regarding this will be sent out directly from Royal London.
- Contractual changes to your contract of employment
Your contract of employment is amended according to your level of contribution. As an example if you earn £20,000 basic and want to pay 3% salary sacrifice into your pension from your basic salary your contract of employment will note your salary as £19,400 plus a salary sacrifice of £600 into your pension. This will be confirmed in a separate letter which is to be agreed by all parties before any deductions can be made.
There is no minimum or maximum levels of contribution you can make to your Sellick Partnership pension, as long as your contribution does not take your salary below any national minimum or living wage rates.
To find out more about what we offer our employees and how a career with Sellick Partnership might benefit you, please contact our Internal Talent Manager Simon Briffa.