# Pension Plan generic term



## MV Owner (Nov 5, 2008)

Guys,

In 2005 to 2009, I was employed by a Company who paid into a Stakeholder Pension Plan. They paid in around 6% of my pay and I paid in around 5%.

In 2010, the Company asked if I was prepared to accept a pay reduction, and they would then make higher pension contributions into the same Stakeholder Pension plan which I recall was a total of 5%. My contributions would not appear on my payslip (I had taken a paycut) and the Pension provider would see one single payment from my employer.

There is a generic term that exists for the later arrangement, can anyone please clarify what it is please.

Kind Regards





MV


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## NickP (Nov 20, 2005)

When I did it, it was termed ' Salary Sacrifice'


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## MV Owner (Nov 5, 2008)

Excellent, thats it! thanks!


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## bilt-hamber kid (Dec 4, 2007)

Bear in mind that if you want a mortgage, the company offering you terms might not take into account you are engaged in salary sacrifice and therefore offer you less, accordingly.


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