Contribution bands increase

As the rate of the Consumer Price Index (CPI) rose by 10.1% in the year to September 2022, the salary bands for contribution rates for members will increase by 10.1% (rounded to nearest £1) with effect from 1 April 2023.

The rates as of 1 April 2023 will be:

Annual Salary Rate for the Eligible Employment from 1 April 2022 – 31 March 2023 Annual Salary Rate for the Eligible Employment from 1 April 2023  Member Contribution Rate  
 Up to 29,187.99   Up to £32,135.99   7.4%
 £29,188 to £39,290.99  £32,136.00 to £43,259.99  8.6%
 £39,291 to £46,586.99  £43,260.00 to £51,292.99  9.6%
 £46,587 to £61,742.99  £51,293.00 to £67,979.99  10.2%
 £61,743 to £84,193.99  £67,980.00 to £92,697.99  11.3%
 £84,194 and above  £92,698.00 and above   11.7%

Last Updated: 01/03/2023 11:08