Originally Posted by
Party Animal
Am I missing something here? When has a pay rise ever related to net pay? If you take last years gross pension and multiply it by 1.067, you should get your new gross amount. Whatever you are left with after tax will always be a variable feast depending on your individual circumstances and whatever tax bands are in force at the time. Simples!
The point is if the tax bands remain static as the pension is increased a progressively larger portion disappears back into the hole it came out of in the first place but the smiling face coming out of No11 will tell you that you have had a 6.7% rise, whereas in reality you have had nothing of the such which. He will use this figure in interviews to tell folk how well he is looking after you.