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stinky_daddy
Posts: 449 Forumite
Hi
probably been asked (and answered) several times already, although could not find anything when I searched on certain keywords that might be applicable
I have recently started a new job (after being unemployed for several years due to an accident), and have just received my first payslip, however, I am being told that £6136 is deducted from the gross salary before any pension contribution is calculated - is this correct?
If yes, then what is the £6136 for / based on (surely it is not what the government believes you can survive on)?
While 5% is calculated on the remaining figure, it is not 5% of the gross salary which it should be, or am I looking at this completely wrong?
TIA
s_d
probably been asked (and answered) several times already, although could not find anything when I searched on certain keywords that might be applicable
I have recently started a new job (after being unemployed for several years due to an accident), and have just received my first payslip, however, I am being told that £6136 is deducted from the gross salary before any pension contribution is calculated - is this correct?
If yes, then what is the £6136 for / based on (surely it is not what the government believes you can survive on)?
While 5% is calculated on the remaining figure, it is not 5% of the gross salary which it should be, or am I looking at this completely wrong?
TIA
s_d
Sometimes I wonder...
"why is that frisbee getting bigger?"
...and then it hits me
:rotfl::rotfl::rotfl::rotfl:
Jesus loves you...A nice thing to hear in church, but a horrible thing to hear in a Mexican prison
:rotfl::rotfl::rotfl::rotfl:
Light travels faster than sound. This is why some people appear bright until you hear them speak.
"why is that frisbee getting bigger?"
...and then it hits me
:rotfl::rotfl::rotfl::rotfl:
Jesus loves you...A nice thing to hear in church, but a horrible thing to hear in a Mexican prison
:rotfl::rotfl::rotfl::rotfl:
Light travels faster than sound. This is why some people appear bright until you hear them speak.
0
Comments
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Note that these are what are required as a minimum by law of employers. Some may choose to (to your benefit) ignore the limits (e.g. ignore the £6,136 limit and treat it as if it was £0, and/or ignore the £50,000 limit and give it on all earnings)
https://www.autoenrolment.co.uk/knowledge-bank/in-depth-articles/employee-classifications-qualifying-earnings
https://www.thepensionsregulator.gov.uk/en/business-advisers/automatic-enrolment-guide-for-business-advisers/9-knowing-your-clients-ongoing-duties/automatic-enrolment-earnings-thresholdhowever, I am being told that £6136 is deducted from the gross salary before any pension contribution is calculated - is this correct?
That is correct.If yes, then what is the £6136 for / based on
No idea. It works out to about 14 hours per week at minimum wage (at the moment) so they may have chosen 16 hours at the time? That's pure speculation however.While 5% is calculated on the remaining figure, it is not 5% of the gross salary which it should be, or am I looking at this completely wrong?
It's 5% on the remainder after subtracting that £6,136.
But as I said above, some more enlightened employers may ignore that last bit and work it out on the whole amount, but they're not required to.Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
It is the Lower Earnings Limit and relates to what is considered 'qualifying earning'. See here.Paul_Herring wrote: »No idea. It works out to about 14 hours per week at minimum wage (at the moment) so they may have chosen 16 hours at the time? That's pure speculation however.Personal Responsibility - Sad but True
Sometimes.... I am like a dog with a bone0 -
It is the Lower Earnings Limit and relates to what is considered 'qualifying earning'. See here.
You linked to the same place as second link in my post. Perhaps you meant this one:
https://www.gov.uk/government/publications/rates-and-allowances-national-insurance-contributions/rates-and-allowances-national-insurance-contributions
And using that sorta makes sense. At least for choosing a non-zero number for the sake of choosing one...Conjugating the verb 'to be":
-o I am humble -o You are attention seeking -o She is Nadine Dorries0 -
Can you choose to pay more? If so, why not - at least make sure you put in enough to get the maximum employer contribution.0
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