net pay

For example, most Americans are paying escalating health care premiums and deductibles, which reduces their effective net pay and acts like a steep tax on households.

Former MPs will receive four months' net pay instead of two, while they close their office and manage the departure of their staff.

After these deductions, you’re left with the amount on your paycheck or the net pay.

If someone with $1,000 of gross income and no deductions has federal tax withheld from his pay at a rate of 20%, he would pay $200 in federal taxes, and his net pay would be $800.

But he won't be able to claim the separate payment available to MPs leaving at a general election, equal to two months' net pay, or around £9,800.