SAVING 1% MORE COULD BOOST PENSION BY 25%
Employee Benefits
SEPTEMBER 14, 2023
Example 1: Sam[1] – Basic rate tax payer, earning £20,000 per year The employee increases pension contributions by 1% of salary which is matched by the employer. The cost to the employee of this increase in contribution is a reduction in take home pay of less than £12 per month (£136pa).
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