How much will I contribute?

Overall the average contribution from members is the same as in the LGPS 2009. The structure of member contributions is the same but the actual salary rather than full time equivalent is used to set the contribution rate.  This means a lower contribution rate for part-time members of staff.  The rates will increase on 1 April each year in line with inflation.

Below are examples of net rate in 16/17 after tax relief or you can use Strathclyde Pension Fund's contribution calculator.  Please note - if you are part time, you should use your part-time rate of pay and not your full time equivalent pay.

Examples of what you pay after tax relief

Pensionable Pay Net Contribution for       
2016 /2017
£15,000 4.4%
£20,000 4.4%
£25,000 4.65%
£30,000 5.01%
£35,000 5.28%
£40,000
5.57%
£60,000 5.04%
£80,000 5.58%
£100,000 5.9%

 

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