Contribution rates
You pay contributions on your pensionable pay at your contribution rate.
Your contribution rate depends on how much you are paid. It’s currently between 5.5% and 12.5% of your pensionable pay. The rate you pay depends on which pay band you fall into. When you join, and every April afterwards, your Scheme employer will decide your contribution rate. If your pay changes throughout the year, your Scheme employer may decide to review your contribution rate.
If you receive more than one pensionable allowance and these are paid by different authorities, your contribution rate will be assessed separately by each authority in relation to the allowances they pay.
If you elect for the 50/50 section of the Scheme, you would pay half the contribution rate.
| If your actual pensionable pay is: | You pay a contribution rate of: |
|---|---|
| Up to £18,400 | 5.5% |
| £18,401 to £29,000 | 5.8% |
| £29,001 to £47,300 | 6.5% |
| £47,301 to £59,800 | 6.8% |
| £59,801 to £84,000 | 8.5% |
| £84,001 to £119,100 | 9.9% |
| £119,101 to £140,400 | 10.5% |
| £140,401 to £210,700 | 11.4% |
| £210,701 or more | 12.5% |
The contribution rates and pay bands are reviewed regularly and may change in the future. If you are a member of the Scheme, you should check your payslip to make sure that pension contributions are being taken.
You can use the Contributions calculator to see what contributions you pay based on your pensionable pay. You can use the calculator to see how your contributions are affected by your pay, tax relief and what section of the Scheme you are in.