[UK] City council launches first dedicated salary sacrifice framework

Portsmouth City Council has launched the UK’s first dedicated salary sacrifice framework. The new framework will allow other public sector organisations to sign up with a trusted provider without a lengthy procurement process, Portsmouth City Council reports.

Councils can now save money and support employee’s financial wellbeing through salary sacrifice additional pension contributions more easily with the dedicated framework.  

In addition to helping councils make savings, it reportedly provides staff with further education and support around retirement planning and financial wellbeing.

AVC Wise Ltd. (AVC Wise) is the approved provider for the single-supplier framework. The framework is free to use.

Shaun Tetley - pensions and payroll manager for Portsmouth City Council - said, “We have been leading the way with additional voluntary contributions for some time, we firmly believe it’s a great move for staff and employers and we’re delighted to launch this framework that can help so many others benefit from it.

“Numerous councils have said they’ve had difficulties procuring a supplier, and now they don’t need to worry about that as they can benefit from the work we’ve already done.

“AVC Wise is the market leader for salary sacrifice AVCs and provides a fantastic service. Our framework will speed up staff getting benefits and employers saving money, which can only be good for the public sector.”

Bobby Lyons - head of strategy and commercial at AVC Wise - said,“This framework is a game changer for public sector organisations.

“It cuts out the lengthy tender process as all you need to do is identify your requirements, present these to us at AVC Wise, award a contract, and you’re on your way to offering your public sector employees the best retirement benefits possible.

“We’re constantly striving to make access to salary sacrifice AVCs as easy as possible for employees, and this is a huge step in the right direction in our mission to support the public sector and the financial wellbeing of its employees.”

Source: Portsmouth City Council

(Quotes via original reporting)

Portsmouth City Council has launched the UK’s first dedicated salary sacrifice framework. The new framework will allow other public sector organisations to sign up with a trusted provider without a lengthy procurement process, Portsmouth City Council reports.

Councils can now save money and support employee’s financial wellbeing through salary sacrifice additional pension contributions more easily with the dedicated framework.  

In addition to helping councils make savings, it reportedly provides staff with further education and support around retirement planning and financial wellbeing.

AVC Wise Ltd. (AVC Wise) is the approved provider for the single-supplier framework. The framework is free to use.

Shaun Tetley - pensions and payroll manager for Portsmouth City Council - said, “We have been leading the way with additional voluntary contributions for some time, we firmly believe it’s a great move for staff and employers and we’re delighted to launch this framework that can help so many others benefit from it.

“Numerous councils have said they’ve had difficulties procuring a supplier, and now they don’t need to worry about that as they can benefit from the work we’ve already done.

“AVC Wise is the market leader for salary sacrifice AVCs and provides a fantastic service. Our framework will speed up staff getting benefits and employers saving money, which can only be good for the public sector.”

Bobby Lyons - head of strategy and commercial at AVC Wise - said,“This framework is a game changer for public sector organisations.

“It cuts out the lengthy tender process as all you need to do is identify your requirements, present these to us at AVC Wise, award a contract, and you’re on your way to offering your public sector employees the best retirement benefits possible.

“We’re constantly striving to make access to salary sacrifice AVCs as easy as possible for employees, and this is a huge step in the right direction in our mission to support the public sector and the financial wellbeing of its employees.”

Source: Portsmouth City Council

(Quotes via original reporting)