Reviewing your current pension arrangements can help identify where you can reduce costs. For example, looking for a provider with lower fees.
You may also be able to offset costs by setting up a salary exchange scheme. This helps to lower the amount of National Insurance (NI) you pay per employee. Some employers choose to pass on some or all of these savings to employees, but you’re not obliged to.
Salary exchange can also help employees lower their Income Tax and NI contributions as they’ve essentially agreed to give up part of their salary. This technically reduces the amount they earn, lowering what they owe in tax.