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PSE - Pension Salary Exchange

Royal Mail pension news and discussion.Please note the advise given in this forum is unofficial, please use the links we have for a more detailed response or see an independent financial adviser.
Marke87
Posts: 19
Joined: 11 Sep 2015, 09:56
Gender: Male

PSE - Pension Salary Exchange

Post by Marke87 »

Hi, I noticed that Opt Out window for the PSE starts today (ends 25th Juky 24)

I'm a section C member and I'm opted into the PSE.

I know the benefits of being opted in are saving's on NI but are there any benefits of opting out? (more money going into your pension pot?)

Many Thanks
Mark
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RobertT
EX ROYAL MAIL
Posts: 6644
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: PSE - Pension Salary Exchange

Post by RobertT »

There's no more or less money going into your pension as a result of salary sacrifice(PSE). But when you're in it, the taxman pays an extra chunk on top of the tax relief you already get, which means your personal contribution is less and you get more in your take home pay.

Most people will benefit from salary sacrifice, but there could potentially be times when it's best to opt out: https://www.moneyhelper.org.uk/en/pensi ... ur-pension

Here's RM's info on PSE: https://www.myroyalmail.com/node/6791
Links to all RM pension related websites are here
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