As an active member of the Local Government Pension Scheme you will make contributions to the scheme. These contributions will attract tax relief.
Your actual contribution rate will depend on how much you earn. The pay bands from 1st April 2024 are outlined below. The salary ranges for each contribution band will change each April in line with the cost of living:
|
Band
|
Actual pensionable
pay for an employment
|
Main section
contribution rate
for that
employment
|
50/50 section
contribution rate
for that
employment
|
|
1
|
Up to £17,600
|
5.50%
|
2.75%
|
|
2
|
£17,601 to £27,600
|
5.80%
|
2.90%
|
|
3
|
£27,601 to £44,900
|
6.50%
|
3.25%
|
|
4
|
£44,901 to £56,800
|
6.80%
|
3.40%
|
|
5
|
£56,801 to £79,700
|
8.50%
|
4.25%
|
|
6
|
£79,701 to £112,900
|
9.90%
|
4.95%
|
|
7
|
£112,901 to £133,100
|
10.50%
|
5.25%
|
|
8
|
£133,101 to £199,700
|
11.40%
|
5.70%
|
|
9
|
£199,701 or more
|
12.50%
|
6.25%
|
It is your employer’s duty to inform you of your contribution band, and of any later changes to the percentage you will be paying. If you believe that you have been allocated to the wrong band, please contact your employer.
Employer contribution
Your employer pays the balance of the cost of providing your benefits in the Local Government Pension Scheme. Every three year an actuarial valuation is undertaken to calculate how much your employer should contribute to the scheme.