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Like most pension schemes you do have to pay towards your benefits, but you are not on your own, your employer pays too.
The cost to you will fall between 5.5% and 7.5% of your pay, depending on which band your full time equivalent pay falls into. But in many cases, the real cost is a lot less than the amount shown on your payslip. This is because if you earn enough to pay income tax you will pay less, and in most cases you will pay less National Insurance too. |
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If you are part time
