HMRC salary sacrifice schemes are becoming increasingly invaluable for companies wanting to optimise their employee benefit packages while also managing costs. At their core, salary sacrifice schemes – also known as a salary exchange – offer a way for employers and employees to save money. They’re designed to help everyone make tax-efficient benefit choices that […]
Time strapped? Key takeaways from the blog: From April 2025, employer NI contributions rise to 15% (from 13.8%) with a new £5,000 threshold The average business faces increased costs of around £900 per employee annually Implementing salary sacrifice through Maji can reduce these increased NI costs by 30-60% Quick implementation means you can start saving […]
For employers, supporting financial planning in the workplace is a powerful way to create a more engaged, productive, and resilient workforce. By empowering employees to take control of their finances, you’re not just helping them individually – you’re strengthening your organisation as a whole. Financial planning is a critical building block of financial wellbeing. The […]
As the Chancellor announced an increase in National Insurance (NI) rates from 13.8% to 15% on 30 October 2024, many employers are facing higher costs on the horizon. But there’s a silver lining: salary sacrifice schemes can offer significant savings opportunities for your business, helping to offset these new expenses and keep costs neutral. Here’s […]
As the Chancellor announced an increase in National Insurance (NI) rates from 13.8% to 15% on 30 October 2024, many employers are facing higher costs on the horizon. But there’s a silver lining: salary sacrifice schemes can offer significant savings opportunities for your business, helping to offset these new expenses and keep costs neutral. If […]
We are fast approaching the annual celebration of UK Savings Week and UK Pension Awareness Day. It would be remiss of us not to acknowledge the current financial landscape; where many of your employees are struggling to save due to rising costs of living. Yet, the importance of saving for retirement through pension contributions remains […]
The number of employees in financial distress is rising: approximately 80% of employees are impacted by money worries at work and 57% say financial worries are the biggest cause of mental stress.We also know that those who are feeling financially stressed but who don’t feel supported by their employer are twice as likely to look […]
Navigating the world of personal finance can be overwhelming. With a plethora of information available, it’s often difficult to know where to turn for help. This blog aims to clarify the distinctions between financial coaching and financial advice, empowering you to make informed decisions about your financial journey. Financial coaching: your personal navigator In order […]
The intersection of diversity, equity, and inclusion (ED&I) and financial wellbeing is a critical issue that’s often overlooked. The harsh reality is that certain employee groups experience a disproportionate burden of financial stress with regards to pay and pension. Women and ethnic minorities, for example, often face significant financial disadvantages compared to their peers. Additionally, […]
Measuring employee financial wellbeing is crucial for organisations seeking to improve employee satisfaction, productivity, and overall well-being. Research from PIB’s 2024 Wellbeing Revolution Report shows that a staggering 50% of corporate employers don’t have the data to make informed decisions on future employee benefit strategies. Understanding employees’ financial situations provides valuable insights into their needs […]
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Maji is the trading style of Maji Financial Wellbeing Ltd, a company registered in England and Wales (Registration no. 11937232). Maji Financial Wellbeing Ltd is registered with the Financial Conduct Authority (Registration no 969225) as the PSD agent of Bud Financial Ltd (Registration no 793327).
