Changes to pension scheme contributions
With effect from 1 April 2012 there will be an increase in the contribution rates for members of the Teachers' Pension Scheme and the NHS Pension Scheme.
There has been no change to the Local Government Pension Scheme contribution rates although the salary bands have been revised so some staff may fall into a lower band. As the LGPS is a funded scheme, it is hoped to agree all changes by April 2013 for implementation on 1 April 2014.
Regular updates can be found at www.port.ac.uk/departments/services/humanresources/pensions/updateonpensions.
Further information is also available on the pension scheme websites:
- Teachers' Pension Scheme: www.teacherspensions.co.uk/sitecore/content/Shared-Content/News/Public-News/2012/February/Scheme-reforms-consultation.aspx
- NHS Pension Scheme: www.nhsbsa.nhs.uk/Pensions/2657.aspx
- Local Government Pension Scheme: www3.hants.gov.uk/pensions/pensionlatestnews.htm
Download the new rates for three schemes.