How much will I pay?

08:58, 16 Apr 2008

The level of contributions you pay is dependent on your full time equivalent pensionable earnings. The lowest rate is 5.5% of your pay and the highest rate is 7.5%. However, in real terms it will be less than that because your contributions will attract tax relief. This means your pension contributions are deducted from your salary before you pay tax. You will also pay reduced national insurance contributions.

Details of current contribution rate bands are available on the Scheme Guides/Leaflets page.

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