Contribution rates

 

What do I pay?

Your contribution rate depends on how much you are paid, but it will be between 5.5% and 12.5% of your pensionable pay. The rate you pay depends on which pay band you fall into.

If you work part-time or term time, your rate is based on the actual rate of pay for your job, so you only pay contributions on the pay you actually earn.

These are the pay bands that apply from April 2020:

Pay

band  

 If your yearly

pay is:

You pay a contribution

rate of: 

 

 

Main

section

50/50

section

1

Up to £14,600

5.5%

2.75%

2

£14,601 to £22,800

5.80%

2.90%

3

£22,801 to £37,100

6.50%

3.25%

4

£37,101 to £46,900

6.80%

3.40%

5

£46,901 to £65,600

8.50%

4.25%

6

£65,601 to £93,000

9.90%

4.95%

7

£93,001 to £109,500

10.50%

5.25%

8

£109,501 to £164,200

11.40%

5.70%

9

£164,201 or more

12.50%

6.25%

The pay band ranges will be increased each April in line with the cost of living.