14 Jan Wow Thanks For The Pay Rise – I Didn’t Even Notice
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.