Smart Pension contributions accounting
My employer has introduced a Smart (salary sacrifice) pension scheme. It is my understanding that under this type of scheme, the employee no longer makes pension contributions. The amount deducted from the employee's salary is paid by the employer, to the pension scheme, as Employer contributions (not employee contributions).
So, all things being equal, does that mean that in the remuneration note of the stat accounts, the 'Wages and Salaries' line will show a reduction compared to prior year, and the 'Pension costs' line will show an increase?