FTE or Umbrella

[northernladuk]

It may be something they do automatically for employees so there really isn't harm in asking....

If they don't then select the umbrella based on allowing Advanced Holiday Pay (so nothing can be stolen) followed by pension provider. Because you can always open a new pension provided you have one.

This ^^. I wouldn't be picking a poor umbrella just because it pays in to your pension pot. Others have good pension offerings and it's a doddle to combine them when you've done.

[lucyclarityumbrella]

You should give Lucy at Clarity Umbrella, firstly because she's got no friends and no one speaks to her day in day out but also she's well know for giving great impartial advice and she can give you the low down even if you don't end up going with them. She might even be watching lucyclarityumbrella

"Forum Friends", but thank you anyway!

[eek]

Am having to shop around for one that could pay in to my pension provider, as it is not one of the usual suspects. Only on I have found so far is Giant, which seams to have mixed reviews on here.

On the first part, I had thought of that and thought it a bit cheeky to ask.

It may be something they do automatically for employees so there really isn't harm in asking....

If they don't then select the umbrella based on allowing Advanced Holiday Pay (so nothing can be stolen) followed by pension provider. Because you can always open a new pension provided you have one.

[Deepster]

The only thing you miss is

asking the employer if they will place their employer in saving into your pension

and checking if the umbrella can pay into your pension provider.

Am having to shop around for one that could pay in to my pension provider, as it is not one of the usual suspects. Only on I have found so far is Giant, which seams to have mixed reviews on here.

On the first part, I had thought of that and thought it a bit cheeky to ask.

[eek]

The only thing you miss is

asking the employer if they will place their employer in saving into your pension

and checking if the umbrella can pay into your pension provider.

[northernladuk]

Erm. Are you FTE which is an employment contract of sorts or are you PAYE? I am assuming as you are talking day rate it's PAYE and the title is wrong.

Are you sure you can max out your pension on PAYE? I don't know the answer, just didn't think you could. And you might have to hunt around for a brolly that allows you to put max in to a pension of your choice. Not all do.

Get each to give you a key information document which should break down the figures in detail which might help. Also will you be staying inside for long? The continuous employment through a brolly might help more with mortgages and the like if you can stay with them for multiple contracts.

You should give Lucy at Clarity Umbrella, firstly because she's got no friends and no one speaks to her day in day out but also she's well know for giving great impartial advice and she can give you the low down even if you don't end up going with them. She might even be watching lucyclarityumbrella

[Deepster]

Long time lurker, first time poster.

I've just been offered a role, which can be fixed term on the clients books as PAYE or via an Umbrella and I'm trying to weigh up the best option.

PAYE wise: I have my day rate + 33 days paid holiday, + 3% pension contribution

Umbrella wise: I have the same day rate + holiday pay factored for 33 days of the year + 3% pension + employers NI + apprenticeship levy.

On the face of it, they seem pretty even and both should allow me to max out my pension contribution via salary sacrifice.

The only real significance difference I can see ( I think) is the saving on Employers NI where they pay me gross and I use salary sacrifice, which reduces the liability.

Is there anything else I am missing?