Your contribution rate depends on how much you are paid and will be between 5.5% and 10.5% of the pensionable allowances you receive. The only allowances that are pensionable are the Basic Allowance and Special Responsibility Allowance.
The rates below apply from 1 April 2020 and the pay ranges are increased in line with cost of living every April.
|Pensionable Pay||Contribution Rate|
|£0 – £15,000||5.5%|
|£15,001 – £23,000||5.8%|
|£23,001 – £38,400||6.5%|
|£38,401 – £46,600||6.8%|
|£46,601 – £92,300||8.5%|
|More than £92,300||10.5%|
As a member of the Scheme, you will receive tax relief on your contributions.
Alice is paid £11,000 a year.
She will pay 5.5% of her pay, making her monthly contribution approximately £50.
How much does the Council contribute?
The Council pays the balance of the cost of providing your benefits in the Scheme – this is normally a percentage of your pensionable pay. Every three years an independent review is undertaken to calculate how much each Council should contribute. The majority of Councils contribute a percentage contribution rate. The percentage contribution rates for the next three years are:
|Year||Council Contribution Rate|