Your contribution rate depends on:
- how much you are paid yearly
- if you opt-in to the 50/50 Option
Remember: The annual pension that you build up is based on a set formula and not on your contribution amount.
The contribution rate that you pay is different to how your annual pension is calculated. To find out how your annual pension is calculated, refer to the How is my LGPS pension calculated section.
Your employer pays the balance of the cost of providing your benefits. The amount will vary, but generally your employer will contribute two thirds of the scheme's costs and the employee contributes one third.
Contribution rate table
These are the pay bands that apply from April 2024, and will be updated annually:
| Pay Band | If your yearly pay is | Contribution rate (main section) | Contribution rate (50/50 section) |
|---|---|---|---|
| 1 | Up to £17,600 | 5.5% | 2.75% |
| 2 | £17,601 to £27,600 | 5.8% | 2.9% |
| 3 | £27,601 to £44,900 | 6.5% | 3.25% |
| 4 | £44,901 to £56,800 | 6.8% | 3.4% |
| 5 | £56,801 to £79,700 | 8.5% | 4.25% |
| 6 | £79,701 to £112,900 | 9.9% | 4.95% |
| 7 | £112,901 to £133,100 | 10.5% | 5.25% |
| 8 | £133,101 to £199,700 | 11.4% | 5.7% |
| 9 | £199,701 or more | 12.5% | 6.25% |
What if I work part time or term-time?
If you work part time or term-time, the rate is based on the actual rate of pay for your job, so you only pay contributions on the pay you actually earn.
What if I have more than one job?
If you have more than one job your contribution rate will be determined separately for each job by your employer.
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