Salary Exchange

Support your clients by highlighting the benefits of salary exchange for them and their employees

Salary exchange is an arrangement where employees exchange part of their salary in return for an employer pension contribution. Because the salary is being exchanged rather than paid directly, neither the employer nor employee will pay National Insurance Contributions on the amount exchanged.

Salary Exchange Guide

We can support salary exchange and tailor it to suit the needs of your clients to make their scheme as cost-effective and attractive as possible. Our adviser guide explains everything you need to know about salary exchange.




Read our guide (PDF, 573KB)opens a pdf guide in a new tab


Salary Exchange Film

Share our short film with your clients, to help explain what salary exchange is and how it could potentially benefit them.

Could salary exchange benefit your clients?

Work out how salary exchange could potentially benefit your clients and their employees by using our calculator. You can calculate the potential savings based on the National Insurance Contributions rates for the 2022/23 tax year where rates have increased. 

2022/2023 calculator (xls, 440KB)

Further support for you and your clients

To find out more about how we can help you with salary exchange, please speak to your usual Scottish Widows contact, or if you don’t have one, please email us at

Or for more information on salary exchange, please explore our available resources aimed to help you support your clients and their employees.

Support for you:


Support for your clients and their employees:

What do you want to do next?

Use our Salary Exchange calculator

Calculator 2022/2023Download the salary exchange tool

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