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% |