Updates to contribution bands

Each April the member contribution bands are updated in line with the Consumer Price Index (CPI). In the year to September 2023 CPI was 6.7%. From 1 April 2024 the bands will be changed to reflect this. The rate your employer pays into the Scheme will also increase to 28.6% of your salary.

The CPI also impacts other pension factors, such as Annual Allowance, flexibility rates, and more. You can find all the information on our updates page.

Annual Salary Rate for the Eligible Employment from 1 April 2023 - 31 March 2024 Annual Salary Rate for the Eligible Employment from 1 April 2024  Member Contribution Rate
Up to £32,135.99
Up to £34,289.99  7.4%
£32,136.00 to £43,259.99 £34,290.00 to £46,158.99 8.6%
£43,260.00 to £51,292.99 £46,159.00 to £54,729.99 9.6%
£51,293.00 to £67,979.99 £54,730.00 to £72,534.99 10.2%
£67,980.00 to £92,697.99 £72,535.00 to £98,908.99 11.3%
£92,698.00 and above £98,909.00 and above 11.7%
Last Updated: 20/02/2024 11:52