Muriel has now relocated to Cape Town, RSA. Her new employer agreed to maintain the same salary. She contributed 7,5\% of her annual salary towards pension. She has also contributed a certain amount of money to the Medical Aid Scheme for herself, her husband and 3 children. Income tax brackets for 2020/2021 and \( 2021 / 2022 \) financial years are shown in ANNEXURED. se ANNEXURE D and the information above to answer questions that follow. 2.1. Calculate the amount she will contribute towards pension per year in rands.

To calculate the amount Muriel will contribute towards her pension per year, we need her annual salary. Since it is not provided, let's assume her annual salary is X rands. Muriel contributes 7.5% of her annual salary toward her pension. The formula for calculating her pension contribution would be: Pension Contribution = Annual Salary × 7.5% = X × 0.075 So, if her salary were, for example, 500,000 rands, her annual pension contribution would be: Pension Contribution = 500,000 × 0.075 = 37,500 rands. In this case, you would simply replace X with her actual annual salary to find the correct contribution amount. --- If Muriel’s employer matches her pension contributions, that would be a delightful bonus for her future savings! Many companies in South Africa offer such benefits to encourage employees to save for retirement. And remember, contributing to your pension not only prepares you for a comfy retirement but may also offer you tax advantages – it's a win-win! If you're interested in optimizing your savings further, consider looking at tax-free savings accounts (TFSAs) available in South Africa. With a TFSA, you can grow your savings without being taxed on the interest earned. Always fun to explore those options!