Important Changes To Your Pension Contribution Bands 04 2018 Eapf6

Important Changes To Your Pension Contribution Bands 04 2018 Eapf6

According to the EAPF News, the contribution pay bands for the Local Government Pension Scheme (LGPS) have increased by 3% from 1 April 2018 . The pay bands increase by the same percentage as pensions increase, which is then rounded down to the nearest £100. Your contribution rate depends on how much pensionable pay you’re actually paid and ranges between 5.5% and 12.5% . Here are the pay bands and rates that apply from 1 April 2018 to 31 March 2019:

| Pay Band | Annual Rate of Pensionable Pay | Contribution Rate |
|————–|———————————–|———————–|
| 1 | Up to £14,800 | 5.5% |
| 2 | £14,801 – £22,000 | 5.8% |
| 3 | £22,001 – £35,800 | 6.5% |
| 4 | £35,801 – £60,000 | 8.5% |
| 5 | £60,001 – £85,000 | 9.9% |
| 6 | £85,001 – £100,000 | 10.5% |
| 7 | Over £100,000 | 12.5% |

Please note that this information is specific to the LGPS and may not apply to other pension schemes.

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