Contribution rates

What do I pay?

Your contribution rate depends on how much you are paid, but it will be between 5.5% and 12.0% 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 2018:

Pay band If your yearly pay is: You pay a contribution rate of:
1 Up to £21,300 5.5%
2 On earnings above £21,300 and up to £26,100 7.25%
3 On earnings above £26,100 and up to £35,700 8.5%
4 On earnings above £35,700 and up to £47,600 9.5%
5 On earnings above £47,600 12.0%

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

 

 

Contribution rate

Actual Pay Min

Actual Pay Max

Contribution rate

Actual Pay Min

Actual Pay Max

5.5

Up to

21,926

8.4

61,535

63,267

5.6

21,927

23,296

8.5

63,268

65,101

5.7

23,297

24,850

8.6

65,102

67,044

5.8

24,851

26,377

8.7

67,045

69,107

5.9

26,378

27,411

8.8

69,108

71,301

6.0

27,412

28,530

8.9

71,302

73,639

6.1

28,531

29,744

9.0

73,640

76,135

6.2

29,745

31,066

9.1

76,136

78,807

6.3

31,067

32,511

9.2

78,808

81,672

6.4

32,512

34,097

9.3

81,673

84,754

6.5

34,098

35,796

9.4

84,755

88,078

6.6

35,797

37,052

9.5

88,079

91,673

6.7

37,053

38,400

9.6

91,674

95,574

6.8

38,401

39,849

9.7

95,575

99,822

6.9

39,850

41,411

9.8

99,823

104,465

7.0

41,412

43,102

9.9

104,466

109,560

7.1

43,103

44,936

10.0

109,561

115,179

7.2

44,937

46,933

10.1

115,180

121,405

7.3

46,934

48,301

10.2

121,406

128,342

7.4

48,302

49,362

10.3

128,343

136,121

7.5

49,363

50,471

10.4

136,122

144,903

7.6

50,472

51,632

10.5

144,904

154,896

7.7

51,633

52,847

10.6

154,897

166,370

7.8

52,848

54,120

10.7

166,371

179,680

7.9

54,121

55,456

10.8

179,681

195,304

8.0

55,457

56,860

10.9

195,305

213,904

8.1

56,861

58,337

11.0

213,905

236,421

8.2

58,338

59,893

11.1

236,422

264,235

8.3

59,894

61,534

11.2

264,236

and above