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Employee Contribution Rates 2023-2024

The rate of contributions you will pay is based on how much you are paid. When you join, and every April afterwards, your employer will determine your contribution rate. If you have more than one job your contribution rate will be determined separately for each job. If your pay changes throughout the year, your employer may decide to review your contribution rate at that time, rather than wait until the following April. 

Band

Actual pensionable pay for an employment

Contribution rate for that employment

 

 

Main section

50/50 section

1

Up to £16,500

5.5%

2.75%

2

£16,501 to £25,900

5.8%

2.9%

3

£25,901 to £42,100

6.5%

3.25%

4

£42,101 to £53,300

6.8%

3.4%

5

£53,301 to £74,700

8.5%

4.25%

6

£74,701 to £105,900

9.9%

4.95%

7

£105,901 to £124,800

10.5%

5.25%

8

£124,801 to £187,200

11.4%

5.7%

9

£187,201 or more

12.5%

6.25%