Aurora-Dream
UKChat Familiar
- Joined
- Feb 25, 2023
- Messages
- 40
- Reaction score
- 27
I live in Scotland not England.Oh I have so miss judge you... I just thought you were trying to be "smart" and delay taking your pension so you can get more later
But lets just look at some numbers shall we? Just encase I'm right
View attachment 15813
NHS England » Delayed retirement (5 years and promotion)
Take on a new challenge If retirement feels like it’s still a few years away yet, and you’re not sure you’ve reached your full potential, maybe a new role with extra responsibility could be a good next step – and a promotion could give your pension a nice little boost too. To give colleagues an […]www.england.nhs.uk
Your estimation
Tax year 2024/2025
Yearly Monthly Weekly Gross salary £26,000 £2,166.67 £500 Income Tax £2,686 £223.83 £51.65 National Insurance £1,343 £111.92 £25.83 Take home pay £21,971 £1,830.92 £422.52
Now here is the funny part
At 67 you get the state pension at £221.20 a week.
Well that's £11502.40p per year. Add £26.811 and £11502.40p together and you get £38313.4
All that money is taxable.
Your estimation
Tax year 2024/2025
Yearly Monthly Weekly Gross salary £38,000 £3,166.67 £730.77 Income Tax £5,086 £423.83 £97.81 National Insurance £2,543 £211.92 £48.90 Take home pay £30,371 £2,530.92 £584.06
Now if you look at both calculations, your see your only £100 per week better off by receiving another £200 per week. And you will have to pay full council tax too so your only really make about £60 per week
I bet you feel great about paying all that national insurant now
Well Kev's scabby old dog needs and new lead and someone needs to pay for it... he wont
Opted out of SERPS years ago btw.
"Well Kev's scabby old dog"..... nice confirmation of your intellectual level