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%

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