How much do I pay towards my pension?
|Wholetime Pensionable pay band||Current rate||Contribution rate increase from 2014/15||Contribution rate 2014/15|
|£27,00 and under||10.7%||0.3%||11%|
|£27,001 - £60,000||11.5%||0.55%||12.05%|
You pay contributions towards the cost of your pension benefits. These are set as a percentage of your ‘pensionable pay’, as shown in the table above. In NPPS, in common with most other public sector pension schemes, members’ contributions meet about one-third of the estimated cost of providing pensions and other benefits (the remaining cost being met by police authorities and central government).
Pensionable pay includes basic salary, additional salary on temporary promotion and competence related threshold payments. Overtime pay, housing allowance and transitional rent allowance are not pensionable.