We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Savings Rate
AlanP_2
Posts: 3,553 Forumite
I have seen various references to a nominal "savings rate" on here and on other sites. By this I am referring to comments such as "I save 50% of my salary" or similar.
I started to wonder what ours was but wasn't sure how to avoid adding apples to pears.
So my question is how do I bring everything back to a level playing field (and in particular pension contributions) so that they can be added to straightforward cash savings per month/year.
DB Pension Contribution before Basic Rate Tax
DB Pension Contribution + AVC before Higher Rate Tax
SIPP (out of taxed income) for Higher Rate Taxpayer
And a supplementary question is it typical to relate the savings rate to Gross or Nett Salary (although this will interact with answers to above I guess)?
Anyone else worked through this and have some observations please? Thanks.
I started to wonder what ours was but wasn't sure how to avoid adding apples to pears.
So my question is how do I bring everything back to a level playing field (and in particular pension contributions) so that they can be added to straightforward cash savings per month/year.
DB Pension Contribution before Basic Rate Tax
DB Pension Contribution + AVC before Higher Rate Tax
SIPP (out of taxed income) for Higher Rate Taxpayer
And a supplementary question is it typical to relate the savings rate to Gross or Nett Salary (although this will interact with answers to above I guess)?
Anyone else worked through this and have some observations please? Thanks.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards