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Student loans and pensions

edited 23 July 2020 at 7:09PM in Loans
3.6K replies 1.9K views


  • Shakin_SteveShakin_Steve Forumite
    2.3K Posts
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    _shel said:
    Good move of clearing loan. 
    It depends on your school.
     WRONG answer 
     has nothing to do with the "school" 

     you know this is A uk forum 
    Correct. Depending upon what you earn, you pay a percentage of your wages.....the more you earn, the more you pay. Student loan deductions have no bearing.

    Annual Salary Rate for the Eligible Employment from 1 April 2019Annual Salary Rate for the Eligible Employment from 1 April 2020 Member Contribution Rate 
    Up to £27,697.99Up to 28,168.99 7.4%
    £27,698 to £37,284.99£28,169 to £37,918.99 8.6%
    £37,285 to £44,208.99£37,919 to £44,960.99   9.6%
    £44,209 to £58,590.99 £44,961 to £59,587.99   10.2%
    £58,591 to £79,895.99£59,588 to £81,254.99   11.3%
    £79,896 and above£81,255 and above  11.7%
    I came into this world with nothing and I've got most of it left.
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