At Maji, we’re proud to support forward-thinking companies in supporting their employees with financial wellbeing. We also help them make a tangible financial difference to their companies and their employees’ payslips through salary sacrifice (otherwise known as salary exchange).
We’d like to highlight two case studies from the tech sector that showcase the benefits of making the switch to a salary sacrifice pension arrangement with Maji.
Case Study 1:
This mission-driven, growing London-based tech company has 49 employees. It has a very strong internal culture and embeds its mission of continuous learning and wellbeing into its ethos.
Its range of employee benefits is impressive, but financial wellbeing was an important part of the puzzle that it wanted to include. It also wanted to make the switch to a salary sacrifice pension arrangement to unlock extra money for additional employee benefits.
Maji has supported this company in adjusting their pension arrangement, giving employees a collective £500 extra per month in their pockets. The company has saved £22,395 since making the switch in December 2021, which includes an uplift from 20% of employees increasing their pension contributions after Maji’s coaching.
Maji has also delivered a bespoke financial planning workshop for the company in conjunction with expert coach Catherine Thomas-Humphreys. Its employees have also taken advantage of Maji’s wider masterclass series.
Case Study 2:
This software company of 90 employees wanted to make the switch to a salary sacrifice pension arrangement to make the most of their workplace scheme. On making the change in early 2022, 90% of its employees entered the salary sacrifice arrangement, with comms and education supplied by Maji.
The company has saved £59,202 to date, and its employees have taken home an extra £14,231 collectively, all through the NI savings made possible through salary sacrifice.
After Maji’s coaching, 29% of employees chose to increase their contributions, with 5% switching on annual auto-escalation. This has increased the company’s NI saving by an extra £10,000 per annum.
46% of employees have created their personal coaching plan and have started tracking their financial health through Maji, allowing them to put their pension into the context of their wider financial lives.