The Student Room Group

Are my pension calculations correct?

Hi all,

I'm a little confused about my pension calculations. I earn a salary of £22,000 and have chosen to pay 9% into my pension. The following is what my pension provider's website says:

Monthly contribution*
9.00%
Monthly contribution (£)
£94.56

The above is reflected on my payslip. It is the £94.56 figure that confused me. Should this not be £118.20: 9%((22,000 - 6,240)/12)?

If it is wrong, is there any guidance on if I need to be provided with the right figures retrospectively?
Original post by Lawguy19
Hi all,

I'm a little confused about my pension calculations. I earn a salary of £22,000 and have chosen to pay 9% into my pension. The following is what my pension provider's website says:

Monthly contribution*
9.00%
Monthly contribution (£)
£94.56

The above is reflected on my payslip. It is the £94.56 figure that confused me. Should this not be £118.20: 9%((22,000 - 6,240)/12)?

If it is wrong, is there any guidance on if I need to be provided with the right figures retrospectively?

Is the 9% being taken before or after tax?
Reply 2
Original post by threeportdrift
Is the 9% being taken before or after tax?

My take home salary is £ 18,922.40 (I have a Postgrad loan). Plugging that into the figure gives a calculation of £95.12 - a much closer figure to what's going on.

That said, is pension not meant to be taken prior to any deductions? That's the whole point, no?
(edited 5 months ago)
Original post by Lawguy19
My take home salary is £ 18,922.40 (I have a Postgrad loan). Plugging that into the figure gives a calculation of £95.12 - a much closer figure to what's going on.

That said, is pension not meant to be taken prior to any deductions? That's the whole point, no?

Should do, but it looks as though they aren't - ask the HR department.

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