GreatAlbatross

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Joined 1 year ago
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Cake day: June 13th, 2023

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  • The matching is usually done with a maximum percentage of your salary.
    Some employers might offer 3%, for example.

    So if at that company you earn £24,000, pay 10% into your pension each month (£200), the company contributes £60, and you don’t pay income tax on the money that went to the pension (probably £40 savings).

    Which means that if you decide to just take the money instead, you’d only see £160 instead of £260 in your pension.