New employee contribution pay bands from 1 April 2024
Submitted by Administrator on April 2, 2024 - 11:29amThe contribution rate you pay in the LGPS is based on how much you are paid. The rate you pay depends on which pay band you fall into.
There are nine different pay bands with contribution rates ranging from 5.5% to 12.5% of your pensionable pay.
The following pay bands and contribution rates will apply in the main and 50/50 [1] sections of the LGPS respectively from 1 April 2024 until 31 March 2025 (both dates inclusive):
| Pensionable Pay for an Employment | Main section Gross Contribution | 50/50 section Gross Contribution |
|---|---|---|
| £0 - £17,600 | 5.5% | 2.75% |
| £17,601 - £27,600 | 5.8% | 2.90% |
| £27,601 - £44,900 | 6.5% | 3.25% |
| £44,901 - £56,800 | 6.8% | 3.40% |
| £56,801 - £79,700 | 8.5% | 4.25% |
| £79,701 - £112,900 | 9.9% | 4.95% |
| £112,901 - £133,100 | 10.5% | 5.25% |
| £133,101 - £199,700 | 11.4% | 5.70% |
| £199,701 or more | 12.5% | 6.25% |