Get expert opinion. This is the place for new questions to be posted.
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Goosed
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Am I right in assuming that the minimum employee contribution to one of these `new government standard` workplace pension schemes is 4% of gross earnings???
"When the seagulls follow the trawler, it is because they think sardines will be thrown into the sea".
Eric Cantona
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Loads a Debt
- Posts: 125
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I can now do without.....
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Niobe
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But has Lem has pointed out - that's on your gross earnings and is taken out before any other deductions so it isn't quite as much.
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antm
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I used my payrise the first year of my IVA, i asked my IP as my pension was part of my contract and started after 12 months service. Luckily with it coming out before tax and my 2.5% payrise that year it meant i was no worse or better off, as time went on my IP didn't mention it and allowed this during the term of the iva.
All i can say is be upfront with your IP take time to talk it through, you might be surprised.
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ML1
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ML1 » Thu Oct 18, 2012 3:39 pm
Right - when will people learn - it is being sold as a payrise - IT IS NOT A PAYRISE UNLESS YOU DO NOT HAVE TO PAY INTO IT YOURSELF - I cant wait till the 1st payslips are opened next week & the backlash will occur - because it will - bear in mind you are automatically enrolled & cannot get the money back until the following month/week - & judging by the increase in electric/gas bills - this is the last thing that people who have never had a pension before can ill afford to do - basically - THE ADVERTS ARE LYING TO YOU
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Niobe
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I don't think any of us on here think of it as a payrise. How can it be when you are ha ing to make contributions yourself?
It's only the big companies at the moment who are having to do it.
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ML1
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ML1 » Thu Oct 18, 2012 4:01 pm
Ok - maybe not on this forum (sorry I couldnt find anywhere where the masses who will be majorly affected to post what I put), but the way its being sold on the TV/radio etc is saying its a payrise. I work in payroll & am dreading this happening as I can see the inevitable backlash coming our way unless the employees of the larger companies somehow manage to put a halt to it when they realise the effect it has on their net pay (if they do not currently pay into a pension)I would assume that most of these will be getting there pay next week.
