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Cost of being in the Scheme

How much you pay into the Scheme is based on your pensionable pay (1995/2008 Scheme) or pensionable earnings (2015 Scheme). This table tells you your contribution rate:

Tier

Pensionable Pay (whole time equivalent) / Earnings used to assess contributions rate

Contribution rate for Scheme year 2015/16 through to Scheme year 2018/19

1

Up to £15,431.99

5.0%

2

£15,432.00 to £21,477.99

5.6%

3

£21,478.00 to £26,823.99

7.1%

4

£26,824.00 to £47,845.99

9.3%

5

£47,846.00 to £70,630.99

12.5%

6

£70,631.00 to £111,376.99

13.5%

7

£111,377.00 and over

14.5%

For more information about how your pensionable pay is calculated read the pensionable pay for 1995 and 2008 Sections factsheet.
 

Contributions