Basically counted as taxes.I wonder how pension conts and ASC are treated in the national accounts? I'm not sure.
I was kind of taking the approach that my pension contributions are essentially part of a long-term savings. I don't include the pension deductions on my payslip when calculating my net pay. I generally just take my gross pay figure and subtract PAYE, USC & PRSI to calculate my net pay. But I was curious if I should also be subtracting ASC too and therefore take the view that it is a tax deduction more so than a pension contribution.Are they savings? I'm not sure.
Wouldn't savings accumulate into an asset? Is there an asset after paying the 6.5% and the ASC?
Your net pay is what hits your bank accountI don't include the pension deductions on my payslip when calculating my net pay.
I understand what you are saying, perhaps net pay is the wrong wording for it. After-tax pay might be a better description. I prefer not to budget based purely on the money that hits my bank account, since my pay slip includes discretionary deductions for things like health insurance, income protection, trade union fees, etc.Your net pay is what hits your bank account
You can calculate your own version but that’s not net pay!
Not what you are asking but you might well be better off looking at getting this separately.since my pay slip includes discretionary deductions for things like health insurance, income protection, trade union fees, etc.
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