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...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes