A laboratory assistant is paid £16 per hour and works 35 hours each week for 52 weeks during the 2026/27 tax year. Use income tax of 20% on the part of annual earnings above £12,570, employee National Insurance of 8% on earnings between £12,570 and £50,270, and an employee pension contribution of 5% on qualifying earnings between £6,240 and £50,270. The worker has no other deductions.
Calculate the worker's annual net pay.
80 exam-style questions on OCR GCSE Economics 2.7 The labour market, covering 2.7.1 Role and operation of the labour market, 2.7.2 Determination of wages, 2.7.3 Explain gross and net pay, and 2.7.4 Calculate gross and net pay. Each one has a worked solution and a mark scheme showing where the marks go.