Can I pay less?
What is the 50/50 section?
The 50/50 section allows you to reduce your contributions by half, and in return build up half your normal pension benefits. You can't move to the 50/50 section until after you have started your job and joined the main scheme.
If you have more than one job you can choose to go into the 50/50 section in one, some, or all of your jobs. A form to join this section must be filled in and sent to your employer.
The contribution rates for 2022/2023 are shown below. The contributions calculator on the national LGPS website can work out your contributions to the 50/50 section for you.
If your pay is: |
Main section contribution rate: |
50/50 section contribution rate: |
|
Up to £15,000 |
5.50% |
2.75% |
|
£15,001 to £23,600 |
5.80% |
2.90% |
|
£23,601 to £38,300 |
6.50% |
3.25% |
|
£38,301 to £48,500 |
6.80% |
3.40% |
|
£48,501 to £67,900 |
8.50% |
4.25% |
|
£67,901 to £96,200 |
9.90% |
4.95% |
|
£96,201 to £113,400 |
10.50% |
5.25% |
|
£113,401 to £170,100 |
11.40% |
5.70% |
|
£170.101 or more |
12.50% |
6.25% |