We use cookies to ensure that we provide you with the best experience of our site. If you continue to browse our website we will assume that you are happy to receive cookies.
To learn more about how they are used please view our Cookie Policy. [X]

I'm in the Boots Retirement Savings Plan

Changes to take-home pay
7 May 2019

Changes to take-home pay

If you’re a member of the AHBRSP, you might notice some changes to your April take-home pay. This is the result firstly of a change to the personal tax allowance and the National Insurance (NI) primary threshold, and secondly because of the increase in minimum auto-enrolment (AE) pension contributions set by the Government.

The annual personal tax allowance has risen from £11,850 to £12,500, while the weekly National Insurance primary threshold has increased from £162 to £166. For most people, this means an increase in their take-home pay. If you are paying AE rates into the AHBRSP, this increase has offset some of the pension contribution rate increase (from 3% to 5%), which also took effect in April.

Net effect of AE on take-home pay

Wage3% employee
contribution
(net of tax relief) 
5% employee
contribution
(net of tax relief) 
Contribution
increase
Personal tax
allowance + NICs
Net take-home
pay change
£10,000
 £7.94 £12.88£4.94£2.08 -£2.86
£20,000
 £37.94 £46.21£18.91£12.91 -£5.36
£26,500
 £40.94 £67.88£26.94£12.91 -£14.03
£30,000  £47.94 £79.55£31.61£12.91  -£18.70
£40,000 £67.94 £112.88£44.94 £12.91  -£32.03 
£45,000  £77.94  £129.55£51.61 £12.91 -£38.70
          

 Professional Pensions analysis

More updates
Earlier updates later updates