Money Matters

please tick the correct answers there is more than one. Your payslip needs to show:

• your gross pay

• your net pay

• the amount you have paid in tax and national insurance

• your passport number

Answer explanation

you don't need your passport number

you pay 0% tax on earning up to £12,500 for 2020-2021

• true

• false

What is the current minimum wage (April 2020-April 2021) if you are aged between 18-20 years old?

• £4.15

• £6.45

• £8.20

• £8.72

Currently (2020) the state pension age is 68, this is how old you need to be to receive a state pension

• True

• False

All employers must provide a workplace pension scheme. This is called ‘automatic enrolment’.

• true

• false