this post was submitted on 21 Nov 2023
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Britain to raise minimum wage by 9.8% to 11.44 pounds an hour (www.reuters.com)
submitted 11 months ago by [email protected] to c/[email protected]
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The original was posted on /r/worldnews by /u/SecondAccount404 on 2023-11-21 21:56:40.

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[–] [email protected] 1 points 11 months ago

Just ran the figures and based on paying the standard 5% into your pension then in extra money I get an 1.70 per month increase take home pay.

The rest of the increase is paid via tax relief direct into your pension. Can't touch it though for years to come.

Good long term I guess but hardy helps short term. Most likely just encourage people to opt out the pension totally.