How Much Does It cost?

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 Fund'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 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 pension scheme including administration and pension payments. Generally employers cover 2/3rds of the costs while members pay 1/3rd. In personal or private pensions, members would have to pay for all fees and contributions.

  • Reducing your contributions

    The 50/50 option allows you to pay half the normal contribution rate and build up half the normal pension. For example if your contribution rate is 6%, in 50/50 you would pay 3%.

    Find Out More
  • Increasing your contributions

    You also have two options to increase your contributions and boost your pension:

    1. Additional Voluntary Contributions
    2. Additional Pension Contributions

    These flexible options allow you to decide how much extra you want to pay and for how long.

    Find Out More

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