Croeso i wefan Cronfa Bensiwn Dyfed
Welcome to the Dyfed Pension Fund website

How much will I Pay?

The Local Government Pension Scheme (LGPS) is provided to you by your Employer, who then pays the bulk of the cost of your benefits. How much it costs you depends on how much you are paid, but it will be between 5.5% and 12.5% of your pensionable pay.

The rate you pay depends on which pay band you fall into, which will be based on your actual pensionable pay. (Please note that any contractual or non-contractual overtime that you undertake will be deemed as pensionable).

However, the amount you actually pay is far less than you think because you attract tax-relief on the contributions that you pay.

Contribution Banding Arrangement from 1 April 2017 to 31 March 2018

Actual Pensionable Pay (£) Rate (%)
Up to £13,700 5.50
13,701 to 21,400 5.80
21,401 to 34,700 6.50
34,701 to 43,900 6.80
43,901 to 61,300 8.50
61,301 to 86,800 9.90
86,801 to 102,200 10.50
102,201 to 153,300 11.40
More than £153,301 12.50

Example 1

Val works full time and her annual rate of pensionable pay in April 2017 is £14,000.

Actual Pensionable Pay (£) Rate (%)
13,701 to 21,400 5.80

This puts her contribution rate at 5.8% of her pensionable pay.

Example 2

Robert works part time (18.50 / 37.00 hours per week) and his annual rate of pensionable pay in April 2017 is £8,000.

This figure determines which pay band Robert falls into.

Actual Pensionable Pay (£) Rate (%)
Up to 13,700 5.50

This puts his contribution rate at 5.5% of his pensionable pay