Contribution Rates
Costs & Contributions
How much you pay depends on how much you earn. When you first join and every April after, your employer will decide your contribution rate by comparing your annual pay with the pension scheme's contribution rates. These rates are set by the Government and are reviewed annually. If at any time your contribution rate changes you employer will let you know.
You can see your contribution rate and how much you'll pay by using the calculator below.
Costs & Contributions Calculator
£
| Your Results | Main Scheme | 50/50 Scheme |
|---|---|---|
| Your estimated contribution rate is: | ||
| Your monthly contribution is: | ||
| Cost of Tax | ||
| Tax relief: | ||
| Net cost: |
What does my employer pay?
Employer contributions don't increase your pension, rather they help cover the cost of the Fund including administration costs and pension payments. Generally employers cover 2/3rds of the costs, while members pay 1/3rd.
