Finance

Contribution Tiers

To determine the correct tier for contributions for part-time members, the calculation is based on the monthly salary paid multiplied by 12. Please don’t base it on their full-time equivalent salary. For example, if a supply teacher is paid a £100 per day and earned £300 that month, the correct tier would be determined as £300 x 12 = £3,600, i.e. tier 1, which is 7.4%.

Arrears of Contributions for prior years

If we contact you in respect of arrears, we’d be grateful if you could complete the form that we issue rather than providing your own extracts. This enables us to process the arrears more efficiently.

Payment of prior year arrears shouldn’t be paid in with the monthly contributions payments.

Interfund Adjustments

Where its been identified that a member’s been put in the incorrect scheme for prior years (be it the Teachers’ Pension Scheme or the Local Government Pension Scheme), please advise us accordingly as corrections should be done outside of the monthly contributions routine.

If the employee is in the Teachers’ Pension Scheme, you should provide the service and salary details and we’ll provide an invoice accordingly. It’s then your responsibility to recover the contributions from the Local Government Pension Scheme and settling our invoice.

Last Updated: 26/10/2021 10:26