Do you offer tax relief at source?
No, at the moment we only offer what's called a net pay arrangement if employees are contributing to their pension outside of salary exchange. This means that when contributing to your pension your contribution is deducted before paying tax and national insurance. With this method you pay less income tax on your monthly pay that ends up in your bank account.
All contributions collected will be the full gross contribution as tax relief is immediately granted at the member's highest 'marginal' tax rate via payroll with no additional tax reclaim required. Any member who is a non-taxpayer will not receive tax relief on their pension contribution. This will not affect the amount going in to the pension but will impact on take home pay.