Contribution Rates

What rate is payable?

Immediately before 1 April 2008, most employees paid 6% of their pay, although a few had a protected rate of 5%.

Since 1 April 2008, the cost of membership is between 5.5% and 7.5% of the pay you receive for the contractual hours you work. The rate you pay depends on which standard pay band you fall into.

How is my contribution rate determined?

If you work part-time your contribution rate will be based on the whole-time pay rate for the job, although you will only pay contributions on your part time pay.

If you have no contractual hours of employment, contributions are deducted on all the pay you receive based on the whole time equivalent for your hourly rate of pay.

The contribution rate for those existing members who are currently paying 5% will be increased on a phased basis, bringing their rate into line with all other scheme members from 1st April 2011. For details see the 'Protected 5% Scheme Members' section in the ' Latest Rates and 'Previous Rates' tables below.

Your contribution rate, and how frequently it should be reviewed is determined by your employer. 

The real cost of membership to you is usually even less because pension contributions attract tax relief and in most cases, National Insurance contributions are also payable at a lower rate.

The salary bands are uprated each April in line with the cost of living by the Department for Communities and Local Government.

Latest Rates

  Rates from 01/04/2012

Previous Rates

  Rates from 01/04/2011

NB no change from 01/04/2010 due to zero cost of living

 Rates from 01/04/2009

 Rates from 01/04/2008

 

 

 

Last Modified: 03/02/2012 15:04:48
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