A pension provider has encouraged advisers working with smaller businesses on auto-enrolment to look again at salary exchange.
The Government approved scheme can offset the cost of auto-enrolment, according to Preston-based advisory firm Taylor Patterson.
The firm, which provides Sipps and SSAS, said businesses are missing out on thousands of pounds of potential savings in National Insurance contributions by not taking advantage of it.
With most small and medium sized enterprises due to reach their implementation dates in 2014 and 2015, Taylor Patterson has suggested companies explore the options for managing the financial implications of workplace pensions through salary exchange.
{desktop}{/desktop}{mobile}{/mobile}

Paul Jackson, employee benefits manager at Taylor Patterson, said: "Since the auto-enrolment legislation came into focus, salary exchange has become an even more valuable and viable option.
"This is due to the fact that there is no longer a minimum period over which an exchange plan has to be used for it to be tax efficient.
"Previously, a valid exchange agreement had to remain for a minimum of 12 months. In contrast, with auto-enrolment, the option to reverse an exchange arrangement can now be agreed between the employer and the employee without a minimum period applying.
"Unfortunately, many advisers consider salary exchange to be too complex or outside of their remit, but the feedback from our clients that have taken this option is that it can be implemented easily and provides a win/win outcome for both the company and its staff."