|Total paid into Jon’s pension pot for that pay period||
|Actual cost to Jon (if in SMART)||
|Actual cost to Jon (if not in SMART)||
We’re busy updating our cost calculator so you can work out how much your pension will cost from April 2018. That’s when Start Up contributions will go up – from 1% to 3% of your pensionable pay. We recently sent you a letter about this.
As explained in this letter, until our new cost calculator is ready – which should be by DATE – here are a few examples that show how much someone will pay into their pension from April, depending on their pay. Just select the drop-down arrows below to view them. The total payment shown in the first line of these examples includes Sainsbury’s contribution of 2%.
|Total paid into Sammie’s pension pot for that pay period||
|Actual cost to Sammie (if in SMART)||
|Actual cost to Sammie (if not in SMART)||
|Total paid into Rebekkah’s pension pot every month||
|Actual cost to Rebekkah (if in SMART)||
|Actual cost to Rebekkah (if not in SMART)||
|Total paid into Leslie’s pension pot
|Actual cost to Leslie (if in SMART)||£56.44|
|Actual cost to Leslie (if not in SMART)||£66.40|