We want to make life easier when it comes to pensions, so we have a simple way for you to calculate how much to pay on to your pension.
Please note, we have now updated our % based SIPP calculations to be based on gross invoice value, rather than available taxable pay. For anyone joining NASA after 04/10 you will either be on the new % method, or a fixed value that you have set. Those who joined NASA previous to 04/10, if using a % deduction, will be on the old method, detailed below.
Calculating pensions can be tricky as depending on how your employer software works, percentages can be applied to different parts of the income they receive.
The percentage model works differently to the fixed amount per pay period, as Nasa Umbrella must reserve a proportion of your income (minimum wage + employment costs) before we can calculate the percentage, and then deduct the pension value.
This means that there is a portion of your income that the pension will not be applied to, and the percentage you select will be applied only to the amount above this.
Please see below step by step calculations and corresponding example for details:
| Company Income | £1500 per week |
| Less | Less |
| Minimum Wage (£11.44 x hours worked + 12.07% holiday pay) | For 37.5 hours worked £480.78 - Minimum taxable pay required (inc. holiday pay) |
| Employment Costs on Minimum Wage (Employer NI, App Levy, Nasa Margin, Employer’s AE Pension if applicable) |
£75.20 |
| Income remaining for Pension | £944.02 |
| Requested Percentage | 15% |
| Total Deduction | £141.60 |