19 Mar 2019, 15:08
19 Mar 2019, 15:43
19 Mar 2019, 16:26
19 Mar 2019, 16:49
Jefferson Starfish wrote:Do you not plan to pay income tax or national insurance?
19 Mar 2019, 17:01
RobertT wrote:The rates mentioned apply to the Defined Benefit Cash Balance Scheme, which you need to be employed by RM for 5 years to be a member of. And the proposed Collective Defined Contribution Scheme, which you need to be employed by RM for 12 months to be a member of, but doesn't actually exist yet, and won't for at least 12 months!
But if you're just about to start the job you would go into the RM Defined Contribution Plan (after 3 months I think), which pays a lower rate. See plan guide for more info: https://www.zurich.co.uk/internet/works ... WD0900.pdf
So I would just concentrate on that for the time being if I was you.
Income tax and NIC's would also have to be taken into account. Although a gross monthly income of £1,000 shouldn't attract too much in the way of taxes, assuming no other income.
The contributions in percentage terms in whichever RM pension scheme you pay into, rank favourably with most employers in the UK.