To think getting less than 50% of your pay is crazy?

[rampe]

If someone earns £15,000 a month. They have a student loan. They pay in 10% into their pension.
They take home less than £7,000 a month.

The person in question is presumably quite young if they still have a student loan on a high salary of £180k a year so I’m not that sorry for them. I earn around that but am in my 50s after a long career. It does hurt a bit to see so much go in tax but I wouldn’t expect sympathy. I still have enough and consider myself fortunate to have a good job and to live here. (Also I take home more than £7k so is the payroll right for you/the person you mention?)

An interesting question .

however when we are talking about public sector workers salaries - teachers / doctors / nurses/ policemen etc etc - we never ask why dont they add on the Pension contributions their employer effectively makes to give them a pension for life based on their final salary - if we did we would quickly find out some of them are far better paid than OP !

Hey! Look at me! I earn £180k a year, plebs!

Get real!

I am weeping for you!
It takes me 6 months to earn what you earn in a month! And I'm not lazy, I have 3 jobs, 1 NHS, and 2 well paid jobs as a trainer.
But as a household we're still on a low income so until last year we were entitled to about £200 a month tax credits.
This year we've switched to Universal Credits... Except we haven't because for years I've scrimped and saved and built up savings for a retirement and paid into a LISA, a scheme which the Government encourage! And I now have too much in savings to be eligible for universal credit! We should have just blown is all over the years and gone on foreign holidays, had takeaways, meals out, bought new clothes, the latest technology instead of being sensible.
So although my earnings are the same we're being penalised for being careful with our money and we're around £200 a month worse off and I can't save for retirement (I will but it'll mean cutting back more because saving for retirement is a priority in my eyes.)

So yes, I, and my tiny violin weep for you, and I agree the tax and benefits system is rubbish, but not in the way you think it is.

Of course it always sucks when you earn a certain amount and have so much taken off. The more you earn, the more gets reducted, relative for all wages. I'm sure you'll agree that's still a might fine sum and part will be paid into a pension. I do understand it's a slap in the face though, but most of us can't really identify I guess. X

So many well-informed and intelligent comments here. From all directions. Surely we should all be able to see how difficult the choices are? I skew one nation Tory politically, and believe that business earns the money that politicians tax, spend and spread around, hopefully fairly. But I know there are levelling agendas too, which seek to flatten the field, so all end up equal.

However, no sensible person will take the risk of losing what they have worked for to create anything better if all the rewards are seized in tax.

Its not like the pension disappears. They still have that money.

By the time you earn that much your student debt is typically paid off .

It's really not unusual to earn less than 50% of your supposed salary.

It sounds ridiculous at first, but once you've paid higher rate tax, NI and pension, that's what youre left with. Because I was paying 13.5% in pension contributions it wasn't a surprise to see those figures

Jealousy? Why do people think being critical of selfish people, moany people and/or obscene wealth is jealousy? Do people not normally call out this type of thing. I’m quite well off, very well educated, have no real wants that I can’t buy if I want but I find incredible inequality a terrible thing. And indeed I think any clever educated person does if they read decent literature or know about the world around them.

This ‘oh you’re just jealous’ screams immature stupidity to me.

Boo hoo you have to pay a loan back that you took out.

What is the world coming to

🎻

So £15k p/m is £180k a year. If repayment plan 1 (most likely) you'll be paying back about £14k a year in student loan. Which yes is a lot. BUT depending on your age the average loan for people on RP1 is between £15-30k. So even with interest you will have paid it off after about 3-4 years on that salary. Although realistically most people won't get that salary immediately out of uni, or even go from £30k to £180k in one swoop - they will have been on intermittent salaries of
£80k, £100k, £150k so the vast amount of people will have already paid off their SL before they ever get to that salary, and if they haven't they will with a year of it. Even if on R2 they will have accrued less interest as the earliest they could have possible graduated is 2015, so even with a £40k loan if you're on £180k within 8/9 years of graduating you'll pay it off by the time you're 30.

So SL will be a VERY temporary or non existent deduction and pension is entirely optional. Try again.

Marginal tax rates in this country are atrocious. They are kept high because.people like posters on here are envious of anyone who earns more than them. We would all be a lot richer if we stopped being jealous of other people’s salaries and aspired to matching them ourselves. There’s no chance of that though in a socialist country.

Atrocious, really? The high income tax rate in the UK is lower than in most Western European countries (eg France, Spain, Italy, Germany, the Netherlands, the Scandinavian countries, Austria, Belgium, Portugal etc).

They aren’t being very tax efficient. They should pay 27% into their pension which reduces their taxable pay.

'If my slide deck is shit no-one dies' is going to become my new guiding principle at work.

If everyone was able to take your advice and got jobs paying £180,000 per year, who would do the much lower paid but essential jobs such as nursing, caring, cleaning, refuse collection?

It is such a lazy response to say that everyone who isn't showing sympathy to the OP is jealous.

Also, this is not a socialist country. There is a very timid Labour government which is terrified of making rich people pay more.

Yes. For middle and lower earners. Higher earners pay on par or higher because of the tax system here. Awkward truth.

Nhs pensions contributions is 9.8% for anyone earning over £33k basic

My pension contribution rate is 12.5% NHS

Link here:
https://www.nhsbsa.nhs.uk/contributions-nhs-pension-scheme-are-changing#:~:text=Employers%20will%20contribute%20more&text=This%20means%20that%20from%201,to%20the%20NHS%20Pension%20Scheme.

@Neurodiversitydoctor
Sorry I missed the + after 9.8% it's a rising income related scale.
I was just pointing out 10% contributions for pensions are not unusual.

No need to tell OP to fuck off, they already have. Not a single post after their goady first one

It's a shit and run thread

I pressed you are not being unreasonable by mistake.
My bad.

In theory yes but it doesn't quite work like that.
If consultants drop sessions that service often loses those PAs/hours. In order to hire new staff we often have to do business case/propose to divisional meetings for new staff. Heck we had to do this for the replacement someone who resigned! We first allocate the money we have for consultants, nursing staff, support staff and SAS drs… we then get money from deaneries for trainees.