Pension Advice Vouchers to offer employees £500 tax-free for advice

Salary sacrifice scheme

Hannah Godfrey
clock • 2 min read

Employees can now claim reimbursement on the first £500 of advice fees each year through Pension Advice Vouchers, a new salary sacrifice scheme provider.

Pension Advice Vouchers said it could save employees up to £310 a year - potentially more for a couple - through using the scheme. First, an employee agrees to sacrifice up to £500 of salary then, once Pension Advice Vouchers confirms the employee has received and paid for pension advice, the employer approves the request and transfers funds tax-free via the scheme. Pension Advice Vouchers said it could also help employees find an adviser.  According to the scheme, some 3.2 million people pay for financial advice each year while a further 12.8 million may have the need for advice. Wit...

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