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 2024/2025 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 £17,600 |
5.50% |
2.75% |
|
£17,601 to £27,600 |
5.80% |
2.90% |
|
£27,601 to £44,900 |
6.50% |
3.25% |
|
£44,901 to £56,800 |
6.80% |
3.40% |
|
£56,801 to £79,700 |
8.50% |
4.25% |
|
£79,701 to £112,900 |
9.90% |
4.95% |
|
£112,901 to £133,100 |
10.50% |
5.25% |
|
£133,101 to £199,700 |
11.40% |
5.70% |
|
£199,701 or more |
12.50% |
6.25% |
The previous contribution rates from the 2023/2024 year are shown the table below:
If your pay is: |
Main section contribution rate: |
50/50 section contribution rate: |
|
Up to £16,500 |
5.50% |
2.75% |
|
£16,501 to £25,900 |
5.80% |
2.90% |
|
£25,901 to £42,100 |
6.50% |
3.25% |
|
£42,101 to £53,300 |
6.80% |
3.40% |
|
£53,301 to £74,700 |
8.50% |
4.25% |
|
£74,701 to £105,900 |
9.90% |
4.95% |
|
£105,901 to £124,800 |
10.50% |
5.25% |
|
£124,801 to £187,200 |
11.40% |
5.70% |
|
£187,201 or more |
12.50% |
6.25% |
How long can you stay in the 50/50 section?
The 50/50 section is designed to be a short-term option for when times are tough financially. Because of this your employer must bring you back into the main scheme every three years. This will be carried out in line with your employer’s automatic enrolment date. Your employer will tell you when this will happen if you’re in the 50/50 section of the scheme. If you wish to continue in the 50/50 section, you will need to fill in another form.
You can choose to rejoin the main section of the scheme at any time by letting your employer know. You'll then start to build up full benefits in the main section from your next available pay period.
Is the lump sum life assurance cover affected?
The value of any lump sum life assurance cover due (three times annual pensionable pay) stays the same regardless of which section of the scheme you pay into.
How do I join the 50/50 section?
Complete the 50-50 section election form and return to your employer.
How do I rejoin the main scheme?
Complete the main section election form and return to your employer.
