Contribution rates are tiered depending on your pensionable pay*:

·         £21,478 – £26,823                       7.1%

·         £26,824 – £47,845                        9.3%

·         £47,846 – £70,630                     12.5%

·         £70,631 – £111,376                   13.5%

·         £111,377 +                                   14.5%

But the actual cost is normally between 5.7% and 8.7% of net pay because because your contributions attract tax relief.

Your employer contributes an amount equivalent to 14.3% of your pensionable pay.

*Pensionable pay is made up of all hours worked up to 40 hours per week**, London weighting and any pay protection.

**Whether you salary supplements form part of your 40 hours per week will be up to the discretion of your individual employer.