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Wow Thanks For The Pay Rise- I Didn’t Even Notice

As you know (or should do) your employer will have enrolled you in the government’s Auto-Enrolment pension scheme. What you probably don’t know is that you have effectively been given a pay rise!

With effect from 6th April employer contributions will go up from 3% of your salary to 5%, and yours, as the employee, have risen from 2% to 3%.

However, in the domestic employee world it has long been the case that you are paid on a NET basis with your employer paying both the employer and employee contributions. This has the effect that you will have received a wage rise although your net pay will not be affected. It’s good to know.

 

The Graham Agency, working with you.

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