Contribution changes
As the rate of the Consumer Price Index (CPI) rose by 1.7% in the year to September 2019, the salary bands for contribution rates for members will increase accordingly with effect from 1 April 2020.
The rates as of 1 April 2020 will be:
Annual Salary Rate for the
Eligible Employment from 1 April 2019 – 31 March 2020 |
Annual Salary Rate for the Eligible Employment from 1 April 2020 |
Member Contribution Rate |
| Up to £27,697.99
|
Up to £28,168.99
|
7.4%
|
| £27,698 to £37,284.99
|
£28,169 to £37,918.99
|
8.6% |
| £37,285 to £44,208.99
|
£37,919 to £44,960.99
|
9.6% |
| £44,209 to £58,590.99
|
£44,961 to £59,587.99
|
10.2% |
| £58,591 to £79,895.99
|
£59,588 to £81,254.99
|
11.3%
|
| £79,896 and above
|
£81,255 and above
|
11.7%
|
Last Updated:
21/01/2021 10:01