Contribution schedule
Section A and B members
Your contributions rates are determined using actual pensionable pay earned in the previous scheme year, instead of whole-time equivalent pay. The scheme year runs from 1 July – 30 June. The current contribution rates, effective from 1 September 2024 are:
- 5.1% of your Pensionable Pay, if your Pensionable Pay is less than £13,246 per annum
- 5.7% of your Pensionable Pay, if your Pensionable Pay is between £13,247 and £17,673 per annum
- 6.1% of your Pensionable Pay, if your Pensionable Pay is between £17,674 and £24,022 per annum
- 6.8% of your Pensionable Pay, if your Pensionable Pay is between £24,023 and £25,146 per annum
- 7.7% of your Pensionable Pay, if your Pensionable Pay is between £25,147 and £29,635 per annum
- 8.8% of your Pensionable Pay, if your Pensionable Pay is between £29,636 and 30,638 per annum
- 9.8% of your Pensionable Pay, if your Pensionable Pay is between £30,639 and £45,996 per annum
- 10.00% of your Pensionable Pay, if your Pensionable Pay is between £45,997 and £51,708 per annum
- 11.6% of your Pensionable Pay, if your Pensionable Pay is between £51,709 and £58,972 per annum
- 12.5% of your Pensionable Pay, if your Pensionable Pay is between £58,973 and £75,632 per annum
- 13.5% of your Pensionable Pay, if your Pensionable Pay is £75,633 or more per annum
The Pensionable Pay bands above (but not the contribution rates within each band) will be increased in the future on such basis as is consistent with increases in pay thresholds under the NHS Pension Scheme.
Contributions will continue for as long as you are an active member of the Scheme.
How much does my employer pay?
Your employer will contribute whatever is necessary to ensure that the Scheme has sufficient money available to pay the agreed lump sums and pension income to each member, as and when they become due, for as long as necessary.
When can I retire?
Normal retirement age for Section A members is 60 years old and 65 for Section B members.