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  • FIRST POST
    • baileywin
    • By baileywin 19th Jun 17, 1:52 PM
    • 54Posts
    • 5Thanks
    baileywin
    Pension contributions not adding up
    • #1
    • 19th Jun 17, 1:52 PM
    Pension contributions not adding up 19th Jun 17 at 1:52 PM
    Earn £33k a year (£2,750pm)

    Pension contributions are 0.8% of qualifying income (which my employer defines as <£43k

    I think my pension contributions should be £22pm.

    My actual contributions are £22.60pm.

    I've only been in the scheme two months.

    It's not the 60p I'm worried about, more that somewhere in my spreadsheet I've got the maths wrong.

    Any ideas?
Page 1
    • TrustyOven
    • By TrustyOven 19th Jun 17, 7:01 PM
    • 606 Posts
    • 639 Thanks
    TrustyOven
    • #2
    • 19th Jun 17, 7:01 PM
    • #2
    • 19th Jun 17, 7:01 PM
    How do your figures match up to the annual / monthly and weekly figures here:

    https://listentotaxman.com/33000?plan=0&pension=0.8%25
    Goals
    Save £12k in 2017 #016 (£4212.06 / £10k) (42.12%)
    Save £12k in 2016 #041 (£4558.28 / £6k) (75.97%)
    Save £12k in 2014 #192 (£4115.62 / £5k) (82.3%)
    • baileywin
    • By baileywin 19th Jun 17, 8:54 PM
    • 54 Posts
    • 5 Thanks
    baileywin
    • #3
    • 19th Jun 17, 8:54 PM
    • #3
    • 19th Jun 17, 8:54 PM
    How do your figures match up to the annual / monthly and weekly figures here:

    https://listentotaxman.com/33000?plan=0&pension=0.8%25
    Originally posted by TrustyOven
    Closely, but not quite. But in any case, the pension contribution is off gross salary?

    I have a student loan, too.
    • baileywin
    • By baileywin 29th Jun 17, 12:43 PM
    • 54 Posts
    • 5 Thanks
    baileywin
    • #4
    • 29th Jun 17, 12:43 PM
    • #4
    • 29th Jun 17, 12:43 PM
    any other opinions?
    • HappyHarry
    • By HappyHarry 3rd Jul 17, 12:32 PM
    • 400 Posts
    • 475 Thanks
    HappyHarry
    • #5
    • 3rd Jul 17, 12:32 PM
    • #5
    • 3rd Jul 17, 12:32 PM
    Earn £33k a year (£2,750pm)

    Pension contributions are 0.8% of qualifying income (which my employer defines as <£43k

    I think my pension contributions should be £22pm.

    My actual contributions are £22.60pm.

    I've only been in the scheme two months.

    It's not the 60p I'm worried about, more that somewhere in my spreadsheet I've got the maths wrong.

    Any ideas?
    Originally posted by baileywin
    Your maths looks just fine to me.

    I could only suggest you ask your employer to clarify the contribution levels, and the difference that you are seeing.
    I am an Independent Financial Adviser. Any comments I make here are intended for information / discussion only. Nothing I post here should be construed as advice. If you are looking for individual financial advice, please contact a local Independent Financial Adviser.
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