Noun
net pay (uncountable)
What remains from gross pay after taxes and other deductions have been taken away
But over a 30-year working life, the lower earner in the net pay scheme would have paid £1,020 more for a pension than the saver in a relief at source scheme. Source: Internet
Master trust providers benefit from a 'net pay' system because they get the higher rate tax relief into their scheme, which generates more fees and gives them a larger fund to manage. Source: Internet