Active discussions

Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

Talk
AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

2k a year pay rise = £66 extra a month!

163 replies

missbunnyrabbit · 31/12/2021 15:11

I'm a teacher and was so excited to go the next point on the scale. Checked my pay today, the first pay with my new salary approved on it, to see I get a grand total of £66 extra a month!

2k sounds like such a lot! But it really isn't after everything is taken off.

Am I being ungrateful?Confused

OP posts:
Thread gallery
9
rwalker · 31/12/2021 17:14

Your pension and student loan are optional tax the same as everyone else .

MintJulia · 31/12/2021 17:16

Yanbu OP It can feel disappointing, can't it.

I'm a single mum earning just over £50k. I know I'm lucky but my deductions are 40% paye + 12% NI + 10% reduction in child benefit + 5% pension

So for each £1 pay rise, I see 33p From April it'll be 31.75p. Or I can choose to divert any pay rise in to my pension, but that doesn't make life any easier now. Sometimes it can feel like quite hard work. Sad

Fredstheteds · 31/12/2021 17:18

That’s an extra day basically- no I agree deductions are huge ! We all pay so much

dootball · 31/12/2021 17:22

@Goinghome20 that definitely seems odd mine is already 50% more than that and I've only been teaching 12.5 years (all full time) and I have had very little money from TLRs etc.

AD3000 · 31/12/2021 17:25

I don’t know of another profession where you reach a limit and get no further recognition on your performance

I do, virtually every profession in the public sector! It is depressing though

Jobseeker19 · 31/12/2021 17:28

If you die do your family get your pension?

LongLive89 · 31/12/2021 17:28

Completely understand this OP.

I got 3K extra to go onto leadership scale pay. An extra £110 a month. Is it worth it when you consider the extra hours/contact time with break duties etc? I’m not sure.

LongLive89 · 31/12/2021 17:29

@Jobseeker19 not completely. It’s a lump sum and then payments given if you die in service.

CallmeHendricks · 31/12/2021 17:34

Amused at all the people suggesting a teacher could be in the higher tax bracket!

GCAndProud · 31/12/2021 17:36

@Goinghome20

Well at 54yo I have found out that teachers pensions are actually not that great.

Been teaching for 23 years. 9 years FT, 14 years PT. If I retire at 60 I will get 6k a year and yes our monthly pension contributions have gone up a lot over past 4 years.

Lots of young teachers dont bother now as they need that money for rent, and I kind of wish I hadn't bothered either now.

Oh no, really? Are you sure it is really that low? I am in the HE sector but on TPS so same scheme as school teachers. My forecast pension is 30k a year plus a large lump sum to clear any remaining mortgage. I'm ft though and will retire at 68 and will have around 38 years service but I am shocked that yours is so low.
nosyboot · 31/12/2021 17:43

I had the same as this, it was so disappointing to see what I actually got and my pension is piddling as well at about £1350 p/a after nearly a decade.

Should have become a politician Grin

MarieG10 · 31/12/2021 17:43

Yes you have illustrated the disgraceful state of this country with he highest tax take for 70 years and that is under a Conservative govt.

They should be ashamed of themselves that a person on 27k is basically paying tax and contributions etc of over 50%

Wait till you get promoted and then have child benefit and break £50k. You will end up paying tax and contributions at that point of 70% if you have 2 kids. That's why lone parents as soon as they get promoted or a pay rise at my place of employment immediate reduce their hours and income to keep universal credit

Neurodiversitydoctor · 31/12/2021 17:47

I have a marginal tax rate of 63% and pension contributions of 13.5% very difficult to persuade me to take on more hours/ responsibility (NHS consultant on a shade above 100k).

Cocomarine · 31/12/2021 17:47

@mnahmnah

Wait until you’re on UPS3 and you realise that you will never get paid any more. Ever. No matter how good you are at your job, the results, the responsibility etc. I don’t know of another profession where you reach a limit and get no further recognition on your performance. It’s depressing. They’d soon be onto you if you don’t perform though!
That’s every private sector job I’ve ever worked in! You reach the top of the payscale and that’s it - for that job. Next step, if you want to go for it - promotion.
Dodgyveneers · 31/12/2021 17:48

@CallmeHendricks

Amused at all the people suggesting a teacher could be in the higher tax bracket!
Why?
2k a year pay rise = £66 extra a month!
MintJulia · 31/12/2021 17:49

@Neurodiversitydoctor

I have a marginal tax rate of 63% and pension contributions of 13.5% very difficult to persuade me to take on more hours/ responsibility (NHS consultant on a shade above 100k).
Wow, I thought mine was bad Shock
Player20868 · 31/12/2021 17:51

www.thesalarycalculator.co.uk/salary.php is a good site to work out whether it's worth nearly killing yourself and going for a promotion/better paid job, or what difference it will make if you go a point or so up the scale.

That's if you work for an employer that uses scales, so mainly public sector - once you're past graduate scheme level, the private sector just seem to lick their finger, wave it in the air and see which way the wind is blowing, in my experience ;)

I'm not a teacher but I do currently work in the public sector, and I'm also starting to wonder if I'm ever going to see a penny of my pension as the government keeps moving the goalposts...

And yet many mortgage lenders still use multiples of your gross salary as a measure of affordability. Our entire system is utterly bonkers.

Larchneedles · 31/12/2021 17:53

Amused at all the people suggesting a teacher could be in the higher tax bracket!

The salaries of a lot of promoted teachers must put them in the higher tax bracket.

It would be extremely foolish not to contribute to the pension scheme. Eventually you will most probably get old and will be very glad of it.

As for the £6000 after 23 years, most of that was part-time and the poster hasn't mentioned the lump sum which I think her pension includes.

Dodgyveneers · 31/12/2021 17:53

@Neurodiversitydoctor

I have a marginal tax rate of 63% and pension contributions of 13.5% very difficult to persuade me to take on more hours/ responsibility (NHS consultant on a shade above 100k).
My friend is a highly skilled nurse and in a similar position, she won’t move up another grade. It’s not worth it for the stress and minimal money.
JinglingHellsBells · 31/12/2021 17:54

One issue that people forget is that in very few private companies do employees get an automatic pay rise simply for being in the job for longer. This tends to be a government/public sector 'perk'.

Most private companies review salaries on merit and performance and may give a cost of living annual increase but it's never guaranteed.

CallmeHendricks · 31/12/2021 17:55

@dodgyveneers, what proportion of the teaching force do you reckon is earning that sort of salary?

GCAndProud · 31/12/2021 17:55

I have just gone and done the calculator again on the TPS website. It tells me that even if my salary stays the same at around £51,000, I am looking at over 40k annual income plus a lump sum of £270k on retirement. That is an amazing pension scheme which is well worth paying into. I think the pp who was claiming that she would get only 6k p/a is on quite a low hours fraction and is planning on retiring 7 years early. But if you work f/t until your state retirement, you should have a financially secure retirement which so many others will not. Then you won't begrudge your contributions.

Cocomarine · 31/12/2021 17:55

@Goinghome20

Well at 54yo I have found out that teachers pensions are actually not that great.

Been teaching for 23 years. 9 years FT, 14 years PT. If I retire at 60 I will get 6k a year and yes our monthly pension contributions have gone up a lot over past 4 years.

Lots of young teachers dont bother now as they need that money for rent, and I kind of wish I hadn't bothered either now.

Well the Devil’s in the detail there, surely? You’ve worked far more than half of your career part time, paying part time contributions. Do you think you should be entitled to a full time equivalent pension? You’re also taking it at 60, a full 7 years before state retirement age.

I suggest you add up your contributions then compare them to your guaranteed index linked early pension before you feel too hard done by @Goinghome20

JinglingHellsBells · 31/12/2021 17:57

@Neurodiversitydoctor

I have a marginal tax rate of 63% and pension contributions of 13.5% very difficult to persuade me to take on more hours/ responsibility (NHS consultant on a shade above 100k).
Do you mean your tax is 50% and you pay 13.5% towards your pension as well? Not that your tax is 63% as no one pays that on £100K
Dodgyveneers · 31/12/2021 17:59

[quote CallmeHendricks]@dodgyveneers, what proportion of the teaching force do you reckon is earning that sort of salary?[/quote]
Turning that back to you, what proportion isn’t?!
It clearly states average pay there.