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Amendment of Superannuation Regulations

3.—(1) Regulation C2 is amended as provided by paragraph (2).

(2) For paragraph (2) substitute—

(2) (a) A person who is in pensionable employment is to pay contributions of—

(i)before 1st April 2012, 6.4% of his contributable salary; and

(ii)from 1st April 2012, for each month during which he is in pensionable employment, the percentage rate set out in the table which is applicable to his contributable salary rate for that month or, if part-time, the full-time equivalent contributable salary rate.

Table

Full-time equivalent contributable salary band (£)Contribution Rate
Below 15,0006.4%
15,000 to 25,9997.0%
26,000 to 31,9997.3%
32,000 to 39,9997.6%
40,000 to 74,9998.0%
75,000 to 111,9998.4%
112,000 and above8.8%