Please see below for the current rates of member contributions.
If you are ineligible for ill-health benefits you will pay contributions at a reduced rate (see Your pension scheme and Compulsory ill-health retirement and early payment of deferred pension on ill-health grounds).
Tier | Members | Members ineligible for ill-health retirement benefits |
---|---|---|
Tier 1 (full-time pensionable earnings at and below £27,000 per year) | 12.44% | 9.94% |
Tier 2 (full-time pensionable earnings above £27,000 but below £60,000 per year) | 13.44% | 10.94% |
Tier 3 (full-time pensionable earnings at and above £60,000 per year) | 13.78% | 11.28% |
Contributions are deducted from pay before it is assessed for income tax, so you will automatically receive full income tax relief at the applicable rate.