How much you and your employer will pay towards your pension
The following contributions rates apply for members of the classic, classic plus, premium, nuvos and alpha pension schemes. partnership has separate contribution rates.
Member contribution rates 01/04/23 – 31/03/24
From
To
Contribution Rate
£0
£32,000
4.60%
£32,001
£56,000
5.45%
£56,001
£150,000
7.35%
£150,001
-
8.05%
Salary threshold changes will take effect from 1 April 2024 - please see EPN700 for more information.
Employer contribution rates 01/04/23 – 31/03/24
From
To
Contribution Rate
£0
£23,000
26.6%
£23,001
£45,500
27.1%
£45,501
£77,000
27.9%
£77,001
-
30.3%
Mini-ASLC (Death in Service Cover for Partnership members)
0.5%
New employer contribution rates will apply from 1 April 2024 - please see EPN698 for more information.
Past contribution rates
Member contribution rates 01/04/22 – 31/03/23
From
To
Contribution Rate
£0
£23,100
4.60%
£23,101
£56,000
5.45%
£56,001
£150,000
7.35%
£150,001
-
8.05%
Annualised rate of pensionable earnings (£)
Member contribution rate
From
To
£0
£23,100
4.60%
£23,101
£56,00
5.45%
£56,001
£150,000
7.35%
£150,001
-
8.05%
Annualised rate of pensionable earnings (£)
Member contribution rate
From
To
£0
£22,600
4.60%
£22,601
£54,900
5.45%
£54,901
£150,000
7.35%
£150,001
-
8.05%
Annualised rate of pensionable earnings
Member contribution rate
£0 to £21,636
4.60%
£21,637 to £51,515
5.45%
£51,516 to £150,000
7.35%
£150,001 and above
8.05%
Annualised pensionable earnings
Contribution rate for classic members, or alpha members who were in classic immediately before 1 April 2015
Contribution rate for all other members
Up to £15,000
4.60%
4.60%
£15,001 - £21,000
4.60%
4.60%
£21,001-£47,000
5.45%
5.45%
£47,001-£150,000
7.35%
7.35%
£150,001 and over
8.05%
8.05%
Annualised pensionable earnings
Contribution rate for classic members, or alpha members who were in classic immediately before 1 April 2015
Contribution rate for all other members
Up to £15,000
4.60%
4.60%
£15,001 - £21,000
4.60%
4.60%
£21,001-£47,000
5.45%
5.45%
£47,001-£150,000
7.35%
7.35%
£150,001 and over
8.05%
8.05%
Annualised pensionable earnings
Contribution rate for classic members, or alpha members who were in classic immediately before 1 April 2015
Contribution rate for all other members
Up to £15,000
3.80%
4.60%
£15,001 - £21,000
4.60%
4.60%
£21,001-£47,000
5.45%
5.45%
£47,001-£150,000
7.35%
7.35%
£150,001 and over
8.05%
8.05%
Annualised pensionable earnings
Contribution rate for classic members, or alpha members who were in classic immediately before 1 April 2015
Contribution rate for all other members
Up to £15,000
3.00%
4.60%
£15,001 - £21,000
4.60%
4.60%
£21,001-£47,000
5.45%
5.45%
£47,001-£150,000
7.35%
7.35%
£150,001 and over
8.05%
8.05%
classic
Annual pensionable earnings (on a full time equivalent basis)
Current classic contribution rate, before tax relief
contribution rate 2014-15, before tax relief
Up to £15,000
1.5%
1.5%
£15,001 - £21,000
2.7%
3.0%
£21,001-£30,000
3.88%
4.48%
£30,001-£50,000
4.67%
5.27%
£50,001-£60,000
5.46%
6.06%
£60,001 and over
6.25%
6.85%
premium, classic plus and nuvos
Annual pensionable earnings (on a full time equivalent basis)
Current classic contribution rate, before tax relief