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Minimum wage

Postal workers discussion forum. Discuss the day to day life in a Blue Shirt.
RobertT
EX ROYAL MAIL
Posts: 6700
Joined: 09 Sep 2007, 14:26
Gender: Male

Re: Minimum wage

Post by RobertT »

postmanzach wrote: ↑
10 Dec 2024, 06:17
dazzler123 wrote: ↑
06 Dec 2024, 17:07
 Right so 534 divided by 37 hours, comes to around £14.43 an hour
Should the pension not b added on as well? Figured was on about 15.34 b for tax and pension.
No.
Your pension contributions benefit from salary sacrifice(PSE).

In simple terms that means RM are paying that money instead of you, which results in the amount of your pay that's assessed for National Insurance purposes being lower by the amount you pay into your RM pension(inc AVC's, etc).

As employer NIC's are based on how much the employee earns, it means RM pay less NIC's aswell.
Links to all RM pension related websites are here
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