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One in ten employees do not understand everything on their payslip

One in ten employees do not understand everything on their payslip
Thursday, 15 July 2010 12:10

9% or nearly one in ten employees do not understand everything on their payslip, according to research from the Institute of Payroll Professionals (IPP)

The IPP has highlighted the importance of employees checking their their payslip every time they are paid, to ensure that all the information is correct. That includes NI, tax, pensions and employee benefits.

Mr Lindsay Melvin, Chief Executive of the IPP, said: Organisations are legally required to provide their employees with an itemised payslip whenever they are paid, but it is surprising the number of people who do not understand them.

Understanding all the details and figures in one's payslip is the only way to be completely sure that you are getting paid correctly. In reality, error rates are very low but knowing your payslip inside and out is the best way to be able to spot mistakes or miscalculations.

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