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		 contribution
rate 2014-15, before tax relief
Up to £15,000 3.5% 3.5%
£15,001 - £21,000 4.7% 5.0%
£21,001-£30,000 5.88% 6.48%
£30,001-£50,000 6.67% 7.27%
£50,001-£60,000 7.46% 8.06%
£60,001 and over 8.25% 8.85%

classic

Salary Band Total Contribution Rate
Up to £15,000 1.5%
£15,001 - £21,000 2.70%
£21,001-£30,000 3.88%
£30,001-£50,000 4.67%
£50,001-£60,000 5.46%
£60,001 and over 6.24%

 

premium, classic plus and nuvos

Salary Band  Total Contribution Rate
Up to £15,000 3.5%
£15,001 - £21,000 4.70%
£21,001-£30,000 5.88%
£30,001-£50,000 6.67%
£50,001-£60,000 7.46%
£60,001 and over 8.25%

classic

Salary Band Total Contribution Rate
Up to £15,000 1.5%
£15,001 - £21,000 2.1%
£21,001-£30,000 2.7%
£30,001-£50,000 3.1%
£50,001-£60,000 3.5%
£60,001 and over 3.9%

 

premium, classic plus and nuvos

Salary Band  Total Contribution Rate
Up to £15,000 3.5%
£15,001 - £21,000 4.1%
£21,001-£30,000 4.7%
£30,001-£50,000 5.1%
£50,001-£60,000 5.5%
£60,001 and over 5.9%

classic

Salary Band Total Contribution Rate
Up to £15,000 1.5%
£15,001 - £21,000 1.5%
£21,001-£30,000 1.5%
£30,001-£50,000 1.5%
£50,001-£60,000 1.5%
£60,001 and over 1.5%

 

premium, classic plus and nuvos

Salary Band  Total Contribution Rate
Up to £15,000 3.5%
£15,001 - £21,000 3.5%
£21,001-£30,000 3.5%
£30,001-£50,000 3.5%
£50,001-£60,000 3.5%
£60,001 and over 3.5%

In this section

Published:
18 December 2021
Last updated:
28 November 2023
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