If your salary changes from one month to another, there may also be changes in the contribution rate you pay for your pension. There are nine bands and the contribution rate for each band is listed below.
Unlike previous years, from 1 April 2014 your contribution rate will be based on your actual pensionable earnings. This means that part-time staff will pay contributions based on their pensionable earnings rather than the full time equivalent salary (FTE).
Contribution Rates Local Government Pension Scheme (LGPS)
|Pay||Main section||50/50 section|
|Up to £13,600||5.50%||2.75%|
|£13,601 to £21,200||5.80%||2.90%|
|£21,201 to £34,400||6.50%||3.25%|
|£34,401 to £43,500||6.80%||3.40%|
|£43,501 to £60,700||8.50%||4.25%|
|£60,701 to £86,000||9.90%||4.95%|
|£86,001 to £101,200||10.50%||5.25%|
|£101,201 to £151,800||11.40%||5.70%|
|£151,801 or more||12.50%||6.25%|
The 2014 Local Government Pension Scheme (LGPS)
The new LGPS 2014 came into force on 1 April and all existing LGPS members were transferred into it on that date. You will build up benefits in the new scheme separately from your pre-1 April 2014 benefits. ATL has produced a factsheet to help you understand your benefits in the LGPS, The 2014 Local Government Pension Scheme. See our factsheets section for this and all our factsheets.
The LGPS is a collection of 99 separate funds, administered locally. Your fund administrator is your first point of contact, but ATL can offer you pension and retirement advice and has dedicated pensions advisers. They can be contacted by calling 020 7782 1600 or you can contact us online.