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(1) Contributions under regulation 2.C.1(1) must be paid at the member’s contribution rate for the period in question.
(2) Subject to paragraph (3), a member’s contribution rate for that period is the percentage specified in column 2 of the following table in respect of the corresponding pensionable pay range specified in column 1 of the table into which the member’s pensionable earnings fall.
Column 1 | Column 2 |
---|---|
Amount of pensionable pay | Contribution rate |
Up to £19,682 | 5% |
£19,683 to £65,002 | 6.5% |
£65,003 to £102,499 | 7.5% |
£102,500 to any higher amount | 8.5% |
(3) The Secretary of State may make a determination substituting any or all of the pensionable pay amounts or contribution rates specified in the table in paragraph (2) with effect from a date specified in the determination.
(4) Before making a determination under paragraph (3), the Secretary of State must consider—
(a)the advice of the Scheme Actuary; and
(b)in accordance with regulation 1.B.2 (cost sharing), advice from such employee and employer representatives as the Secretary of State considers appropriate.
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