11.—(1) Schedule 3 (employees’ and employers’ contributions) is amended as follows.
(2) In paragraph 1 (interpretation), for sub-paragraph (b), substitute—
“(b)“the initial contribution period” means the contribution period which is current when these Regulations come into force;”.
(3) In paragraph 2, for sub-paragraph (2), substitute—
“(2) The percentage rate for an employee’s contribution under regulation 18 (teachers’ ordinary contributions) for the initial contribution period is—
(a)for each month during which the employee is in full-time pensionable employment, the rate set out in the table which is applicable to the employee’s annual contributable salary for that month; and
(b)for each month during which the employee is in part-time pensionable employment, the rate set out in the table which is applicable to the full-time equivalent of the employee’s annual contributable salary for that month.
| Annual contributable salary | Rate |
|---|---|
Below £15,000 £15,000 to £25,999 £26,000 to £31,999 £32,000 to £39,999 £40,000 to £74,999 £75,000 to £111,999 £112,000 and above | 6.4% 7.0% 7.3% 7.6% 8.0% 8.4% 8.8%”. |