Amendments to the Teachers’ Pensions Regulations 201011
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.
Table
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%