Salary bands have changed for contribution rates

A reminder that the change to salary bands for contribution rates came into force on 1 April 2018.

As the annual rate of the Consumer Price Index (CPI) rose to 3% in the year to September 2017, the salary bands for contribution rates for members increased by 3%.

 

Annual Salary Rate for the Eligible Employment from 1 April 2017 

Annual Salary Rate for the Eligible Employment from 1 April 2018 

Member Contribution Rate

 Up to £26,259.99

 Up to £27,047.99

 7.4%

 £26,260 to £35,349.99

 £27,048 to £36,410.99

 8.6%

 £35,350 to £41,914.99

 £36,411 to £43,171.99

 9.6%

 £41,915 to £55,549.99

 £43,172 to £57,216.99

 10.2%

 £55,550 to £75,749.99

 £57,217 to £78,022.99

 11.3%

 £75,750 and above

 £78,023 and above

 11.7%

The member and employer contribution rates have stayed the same; it’s only the salary bands that have being changed.

This applies to all members i.e. both those who remain in the Final Salary arrangement and those in the Career Average arrangement.

Last Updated: 24/04/2018 15:56