Both you and your employer pay contributions to pay for your Local Government Pension Scheme (LGPS) pension. How much you pay depends on how much you earn, the current contributions rates are shown below. Your employer will allocate a contribution rate based on your pensionable pay, if you have more than one job a separate contribution rate will be allocated to each one.
If you join the 50/50 section of the Scheme, you would pay half the rates shown in the table below.
Remember that in the LGPS your benefits are guaranteed, unlike the benefits from a personal pension plan (where a bad spell of investment returns could wipe out years’ worth of benefits).
Here are the current employee contribution rates.
| If your actual pensionable pay is: | You pay a contribution rate of: | |
|---|---|---|
| Main section | 50/50 section | |
| up to £17,600 | 5.50% | 2.75% |
| £17,601 to £27,600 | 5.80% | 2.90% |
| £27,601 to £44,900 | 6.50% | 3.25% |
| £44,901 to £56,800 | 6.80% | 3.40% |
| £56,801 to £79,700 | 8.50% | 4.25% |
| £79,701 to £112,900 | 9.90% | 4.95% |
| £112,901 to £133,100 | 10.50% | 5.25% |
| £133,101 to £199,700 | 11.40% | 5.70% |
| £199,701 or more | 12.50% | 6.25% |