New Pension Rate to be used from 1st October 2023 are as follows:
Scotland (TABLE 1)
Used in respect of members in pensionable employment on the last day of the previous scheme years and the first day of the current scheme year.
Tier | Pensionable Pay used to determine contribution rate £ | Contribution rate (%) |
1 | £0.00 to £13,330 | 5.7% |
2 | £13,331 to £23,819 | 6.1% |
3 | £23,820 to £28,186 | 6.7% |
4 | £28,187 to 35,364 | 8.2% |
5 | £35,365 to £35,521 | 9.8% |
6 | £35,522 to £37,086 | 10.0% |
7 | £37,087 to £45,079 | 10.5% |
8 | £45,080 to £48,784 | 10.8% |
9 | £48,785 to £68,222 | 11.3% |
10 | £68,223 and above | 13.7% |
Scotland (TABLE 2)
This table will apply to any member who starts a new job or whose annual rate of pensionable pay changes during the current scheme year
Tier | Pensionable Pay used to determine contribution rate £ | Contribution rate (%) |
1 | £0.00 to £13,330 | 5.7% |
2 | £13,331 to £25,367 | 6.1% |
3 | £25,368 to £30,018 | 6.7% |
4 | £30,019 to £37,663 | 8.2% |
5 | £37,664 to £37,830 | 9.8% |
6 | £37,831 to £39,497 | 10.0% |
7 | £39,498 to £48,009 | 10.5% |
8 | £48,010 to £51,954 | 10.8% |
9 | £51,955 to £72,656 | 11.3% |
10 | £72,657 and above | 13.7% |