Net pay changes for university staff
Apr. 30th, 2016 08:21 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
mtbcMy drop in net pay was actually slightly better than I had feared so at least my budgeting has been sufficiently conservative. With the increase in pension contribution and changes in both taxation and national insurance codes occurring simultaneously it wasn't easy to estimate perfectly. If I am lucky then whatever cost-of-living increase we get later in the year will cover the additional voluntary contributions I elect to pay in order to get what employer matching I can.
I had forgotten that many others were in the older pension scheme: it transpires that their net pay is not much changed. They used to pay plenty into a better pension scheme and I used to pay less into a worse pension scheme. Now we all pay more into a worse pension scheme. Still, it remains a far better deal than my previous employer's 401(k).
I had forgotten that many others were in the older pension scheme: it transpires that their net pay is not much changed. They used to pay plenty into a better pension scheme and I used to pay less into a worse pension scheme. Now we all pay more into a worse pension scheme. Still, it remains a far better deal than my previous employer's 401(k).
