The amount you pay into our scheme is determined by your annual pensionable earnings.
- if you work full-time, just look for your annual pay (including allowances, additional hours and overtime) to see what your contribution rate should be.
- if you work part-time, the pay band you need is the one which includes your actual annual pay (including allowances, additional hours and overtime) and not the full-time equivalent.
- if you elect for the 50/50 section of the scheme you would pay half of the main section contribution rate.
To identify your contribution rate, please see the following pay band table:
2022/2023 employee contribution rates
| Pay bands | Contribution rate main section | Contribution rate 50/50 section |
|---|
| Up to £15,000 |
5.5% |
2.75% |
| £15,001 to £23,600 |
5.8% |
2.9% |
| £23,601 to £38,300 |
6.5% |
3.25% |
| £38,301 to £48,500 |
6.8% |
3.4% |
| £48,501 to £67,900 |
8.5% |
4.25% |
| £67,901 to £96,200 |
9.9% |
4.95% |
| £96,201 to £113,400 |
10.5% |
5.25% |
| £113,401 to £170,100 |
11.4% |
5.7% |
| £170,101 or more |
12.5% |
6.25% |
As a tax payer you receive tax relief on your pension contributions, as the money is deducted directly from your pay before your tax is worked out.
If you have more than one job they’re treated separately when working out your pay band. That means you could be paying different contribution rates for each job depending on how much you earn in each year.
Contributions and your employer
Your employer will review your contribution rate on 1 April each year, but may also do so at other times during the year.
To find out how often your employer reviews your contribution rate, or for any other queries about the rate you're paying, please contact your employer's payroll department directly.
Video: Looking after your pension
This video explains tax relief, our 50/50 scheme, how to increase your pension using additional contributions and annual allowance. For subtitles select ‘CC’ (closed captions).