Pension Examples

Example 1 – based on minimum income for 40 hours

2019/20

	Normal Pension Option	Kanopi Pension Option
Income	£440.00	£440.00
Margin/Levy	£21.40	£21.35
Pension	£7.91 at 3%	£17.77 at 7%
Nier	£29.67	£28.48

Gross Pay	£381.02	£372.40
Tax	£28.04	£26.40
Niee	£25.80	£24.77
Pension	£11.05 at 5% (net)	£2.04 at 1% (net)
Payable	£316.13	£319.19

Contributions	£18.96	£19.81

Weekly take home saving with Kanopi; £3.06

Weekly increased pension pot with Kanopi; £0.85

Weekly % pension pot increase with Kanopi; 4.48%

Example 2 – based on an average income

2019/20

	Normal Pension Option	Kanopi Pension Option
Income	£700.00	£700.00
Margin/Levy	£22.50	£22.41
Pension	£14.57 at 3%	£32.72 at 7%
Nier	£60.26	£58.07

Gross Pay	£602.67	£586.80
Tax	£72.90	£69.28
Niee	£52.72	£50.50
Pension	£20.35 at 5% (net)	£3.75 at 1% (net)
Payable	£456.70	£463.27

Contributions	£34.92	£36.47

Weekly take home saving with Kanopi; £6.57

Weekly increased pension pot with Kanopi; £1.55

Weekly % pension pot increase with Kanopi; 4.44%

Example 3 – based on maximum contributions / higher rate earner

2019/20

	Normal Pension Option	Kanopi Pension Option
Income	£1,500.00	£1,500.00
Margin/Levy	£25.95	£25.78
Pension	£25.30 at 3%	£59.04 at 7%
Nier	£155.55	£151.48

Gross Pay	1,293.20	£1,263.70
Tax	£210.48	£203.85
Niee	£102.14	£101.55
Pension	£35.42 at 5% (net)	£6.74 at 1% (net)
Payable	£945.16	£951.56

Contributions	£60.72	£65.78

Weekly take home saving with Kanopi; £6.40

Weekly increased pension pot with Kanopi; £5.06

Weekly % pension pot increase with Kanopi; 8.33%