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| Band |
Yearly pay |
Rate |
| 1 |
Up to £12,000 |
5.5% |
| 2 |
More than £12,000 and up to £14,000 |
5.8% |
| 3 |
More than £14,000 and up to £18,000 |
5.9% |
| 4 |
More than £18,000 and up to £30,000 |
6.5% |
| 5 |
More than £30,000 and up to £40,000 |
6.8% |
| 6 |
More than £40,000 and up to £75,000 |
7.2% |
| 7 |
More than £75,000 |
7.5% |
Example 1
Steve works full time and earns £13,000 a year, so he falls into band 2. This puts his contribution rate at 5.8%, which works out at just under £63 a month - less after savings in tax and National Insurance. |
Example 2
Joan works part time (working half the hours) - her actual part time pay is £9,000 a year, but her full time equivalent pay is £18,000 a year, so she falls into band 3. This puts her contribution rate at 6.5%, which works out at just under £49 a month - less after savings in tax and National Insurance.
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