Costs & Contributions

How much you pay depends on how much you earn. When you first join and every April after, your employer will decide your contribution rate by comparing your annual pay with the pension scheme's contribution rates. These rates are set by the Government and are reviewed annually. If at any time your contribution rate changes you employer will let you know.

You can see your contribution rate and how much you'll pay by using the calculator below.


Costs & Contributions Calculator

Your Results Main Scheme 50/50 Scheme
Your estimated contribution rate is:
Your monthly contribution is:
Cost of Tax
Tax relief:
Net cost:

*This is your average estimated gross contribution rate correct to two decimal places. It does not take account of tax and NI breaks which reduce the cost to you. For part time members, you annual pay should include non-contractual overtime (up to full time hours.)

What does my employer pay?

Employer contributions don't increase your pension, rather they help cover the cost of the Fund including administration costs and pension payments. Generally employers cover 2/3rds of the costs, while members pay 1/3rd. 

This site uses cookies to enhance your experience. By using our website you consent to our use of cookies.

Privacy policy