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Pension Contributions

How much do I pay?

Contributions sign

There are two sections in the scheme - the MAIN Section and the 50/50 Section.

The MAIN section of the scheme is the section you will be placed in automatically when you commence employment (or opt in to the LGPS). In the MAIN section, you pay your normal contribution and build up the normal pension each year.

The 50/50 section

You are able to opt in to the 50/50 section if you wish. If you do so, you will then pay half your normal contribution but, whilst you are in the 50/50 section, you will only be building up half the normal pension. If you have more than one employment you can elect for the 50/50 option in one, some or all your employments.

Regardless of the section you are in, you receive full life assurance cover and you are fully protected under ill-health retirement regulations.

The rate of contribution you pay is based on your actual pensionable pay. There are nine different contribution rates ranging from 5.5% to 12.5% - see table below. Your employer will assess the rate of your contribution for each employment based on your actual pensionable pay.

The 2019/2020 employee contribution bands within the MAIN and 50/50 Sections of the LGPS are detailed below. These should be applied from 1 April 2019 to 31 March 2020.

Band

Salary Range

MAIN Section

Contribution %

50/50 Section

Contribution %

1

£0 to £14,400

5.5%

2.75%

2

£14,401 to £22,500

5.8%

2.9%

3

£22,501 to £36,500

6.5%

3.25%

4

£36,501 to £46,200

6.8%

3.4%

5

£46,201 to £64,600

8.5%

4.25%

6

£64,601 to £91,500

9.9%

4.95%

7

£91,501 to £107,700

10.5%

5.25%

8

£107,701 to £161,500

11.4%

5.7%

9

£161,501 or more

12.5%

6.25%

You must be part of the MAIN section before you can elect to opt in to the 50/50 section of the Scheme.

How do I sign up for 50/50?

To opt in to the 50/50 section of the LGPS please complete and return the 50/50 election form and return to your payroll department.

On receipt of the completed form your payroll department will commence your 50/50 pension contributions from the first available pay period following your date of election.

Opting back in to the MAIN Section

You can opt back in to the MAIN Section of the LGPS at any time by completing form LGS10B. Once completed please return to your payroll department who will commence contributions under the MAIN section from the next available payday.

Berkshire Pension Fund

Royal County of Berkshire Pension Fund, Minster Court, 22-30 York Road, Maidenhead, Berkshire SL6 1SF. Tel: 0845 602 7237

Or for further information, please use our online form.