Salary exchange/sacrifice pension

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Has anyone opted for the salary exchange option with their company pension?
I'm trying to look at the pros and cons but to be honest, it's just frazzled my brain.
Will I be better off each month for effectively reducing my salary or will I still be taking home the same net pay each month, but with a lower salary on paper?
I don't earn a huge amount of money as it is and I'm worried I'll be taking less money home each month for the sake of ticking the salary exchange box!
Any advice would be nice, thanks all :)

Most of the time it's a good thing, as you end up paying lower national insurance (as does your employer, though some choose to use that to pay higher pension contributions).

However, because on paper your salary looks lower, it could also mean lower benefits (such as maternity pay) which are based on salary.

Will depend somewhat on exactly where your earnings are.

With maternity leave, the employer should keep up the pension payments during the time anyway (as it's then a benefit and not salary)

You Save tax and ni in what you pay in so you pay in £50 and net pay down £30
It's pretty much a no brainier if available.

Thanks guys, first time its been offered to me but that all makes sense :)

The company slices off an amount that it would have paid you and puts it in your pension. It does this before taxing the money or taking off NI. Then when that money hits your pension the government adds the amount of tax that you would have paid on it. So it is a really tax efficient way to save into your pension, which you will be so glad of in the future!

You will see a difference in your pay packet. But not the full amount you agree to sacrifice : exchange.

Step by step explanation:

Say you agree £50 salary sacrifice, and £50 gets paid into your pension (and immediately gets topped up to £60 because of the tax refund added to pension contributions). You won’t then miss £50 from your pay packet because had it gone to you instead of your pension both tax and NI would be deducted from that £50. So your pay packet would be about £30 down, but your pension would be £60 up.

Money you save into your pension now is also worth loads more than money you put in later, too, because of compound interest. So if you can put in even a bit it will be so worth it.

Not exactly, if you give up £50, then £50 is paid into your pension. You pay less tax (£20 in this example) so are £30 worse off.

But the tax is the benefit in your pay packet. You don't get any extra into the pension (ignoring anything your employer also puts in as their contribution)

Take it. Once you factor in the tax and NI contribution savings, it's a good deal.

I understand, thanks guys. On this occasion I actually chose to still opt into my pension but not do salary sacrifice, as I know I'm looking at selling up and taking a new mortgage out soon. I know this can affect how much i borrow. I also do not have children yet and wouldn't want this lowering any maternity pay I could get in the future if I do. Its definitely something I would opt in a little later on down the line though.