Employee contribution rates for all members and applicable Salary bands are set out below.
1 April 2023 to 31 March 2024
|
Annualised Rate of Pensionable Earnings (Salary Bands) |
% Contribution Rates for All Members |
|---|---|
| £0 - £25,049.99 | 4.6% |
| £25,050.00 - £56,999.99 | 5.45% |
| £57,000.00 - £153,299.99 | 7.35% |
| £153,300.00 and above | 8.05% |
Contributions rates are based on your actual salary (what you are paid each month or week).
If you are paid monthly, the contribution you make each month will depend on the pensionable earnings you were paid in that month. Your contribution rate will be worked out by taking your actual basic pay and any pensionable allowances for that month, multiplying them by 12, and applying the correct rate for the pay band (set out in the table above).
If your pensionable earnings change in any month, and your increased or decreased earnings take you into another pay band, your contribution rate will also change. Your pensionable earnings may vary from month to month because of changes such as pensionable bonuses or changes to your hours or salary.
Previous years employee contribution rates for all members and applicable Salary bands are set out below.
1 April 2022 to 31 March 2023
|
Annualised Rate of Pensionable Earnings (Salary Bands) |
% Contribution Rates for All Members |
|---|---|
| £0 - £24,449.99 | 4.6% |
| £24,450.00 - £56,399.99 | 5.45% |
| £56,400.00 - £153,299.99 | 7.35% |
| £153,300.00 and above | 8.05% |
1 April 2021 to 31 March 2022
|
Annualised Rate of Pensionable Earnings (Salary Bands) |
% Contribution Rates for All Members |
|---|---|
| £0 - £24,199.99 | 4.6% |
| £24200/00 - £55,799.99 | 5.45% |
| £55,800.00 - £153,299.99 | 7.35% |
| £153,300.00 and above | 8.05% |
1 April 2020 to 31 March 2021
|
Annualised Rate of Pensionable Earnings (Salary Bands) |
% Contribution Rates for All Members |
|---|---|
| £0 - £23,999.99 | 4.6% |
| £24,000.00 - £55,499.99 | 5.45% |
| £55,500.00 - £152,499.99 | 7.35% |
| £152,500.00 and above | 8.05% |
1 April 2019 to 31 March 2020
|
Annualised Rate of Pensionable Earnings (Salary Bands) |
% Contribution Rates for All Members |
|---|---|
| £0 - £23,500.99 | 4.6% |
| £23,501.00 - £54,500.99 | 5.45% |
| £54,501.00 - £150,000.99 | 7.35% |
| £150,001.00 and above | 8.05% |
1 April 2018 to 31 March 2019
|
Annualised Rate of Pensionable Earnings (Salary Bands) |
Classic members or classic members who have moved to alpha |
All other members |
|---|---|---|
| £0 - £15,000.99 | 4.6% | 4.6% |
| £15,001.00 - £21,636.99 | 4.6% | 4.6% |
| £21,637.00 - £51,515.99 | 5.45% | 5.45% |
| £51,516.00 - £150,000.99 | 7.35% | 7.35% |
| £150,001.00 and above | 8.05% | 8.05% |
1 April 2017 to 31 March 2018
| Annualised Rate of Pensionable Earnings (Salary Bands) | Classic Members or classic members who have moved to alpha | All other members |
|---|---|---|
| £0 - £15,000.99 | 4.6% | 4.6% |
| £15,001.00 - £21,422.99 | 4.6% | 4.6% |
| £21,423.00 - £51,005.99 | 5.45% | 5.45% |
| £51,006.00 - £150,000.99 | 7.35% | 7.35% |
| £150,001.00 and above | 8.05% | 8.05% |
1 April 2016 to 31 March 2017
| Annualised Rate of Pensionable Earnings (Salary Bands) | Classic members or classic members who have moved to alpha | All other members |
|---|---|---|
| £0 - £15,000.99 | 3.8% | 4.6% |
| £15,001.00 - £21,210.99 | 4.6% | 4.6% |
| £21,211.00 - £48,471.99 | 5.45% | 5.45% |
| £48,472.00 - £150,000.99 | 7.35% | 7.35% |
| £150,001.00 and above | 8.05% | 8.05% |
1 April 2015 to 31 March 2016
| Annualised Rate of Pensionable Earnings (Salary Bands) | Transition members from classic | Transition members from classic plus, premium and nuvos |
|---|---|---|
| £0 - £15,000.99 | 3% | 4.6% |
| £15,001.00 - £21,000.99 | 4.6% | 4.6% |
| £21,001.00 - £47,000.99 | 5.45% | 5.45% |
| £47,001.00 - £150,000.99 | 7.35% | 7.35% |
| £15,001.00 and above | 8.05% | 8.05% |