Paying in

Teacher putting money in a piggy bank

Your contributions are based on the amount you earn each month, so if you earn more in a month than you earned the previous month your contributions may go up.

The good news is that your employer will also be contributing towards your pension too and you’ll receive tax relief on your contributions. Your career average benefits accrue each year based on 1/57th of your pensionable earnings for that year including any overtime. For every year you’re in service the amount of pension ‘banked’ in a year is increased. If you leave service it’s increased but at a lower rate.

The pension contribution bands change on 1 April 2021 and the revised bands are shown in the table below (along with the previous bands so you can see where the changes have occurred). They usually change each April (keep an eye on the website, and we’ll announce any changes with plenty of notice).

Annual Salary Rate for the Eligible Employment from 1 April 2020 Annual Salary Rate for the Eligible Employment from 1 April 2021 Member Contribution Rate
Up to 28,168.99 Up to 28309.99 7.4%
£28,169 to £37,918.99 £28,310 to £38,108.99 8.6%
£37,919 to £44,960.99 £38,109 to £45,185.99 9.6%
£44,961 to £59,587.99 £45,186 to £59,885.99 10.2%
£59,588 to £81,254.99 £59,886 to £81,661.99 11.3%
£81,255 and above £81,662 and above 11.7%
Last Updated: 08/12/2021 14:12


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