1. PENSION SCHEMES LGPS TEACHERS’ PENSIONS CONTRIBUTION RATES WHAT HAPPENS DURING MATERNITY BOTH NOW CAREER AVERAGE SCHEMES NEW FACTSHEET FOR NEW STARTERS

2. Employer Contribution Rates LGPS Every three years an independent review, known as a valuation, is undertaken to calculate how much employers should contribute to the Scheme. The date of the last valuation was 31 March 2013 with employer contribution rates being set for the period 1 April 2014 to 31 March 2017. In order that scheme benefits remain affordable, increases or decreases in the cost of providing those benefits may, in the future, be shared between scheme members and employers. This will be in accordance with government guidance. A note about the 50/50 Section: Under the 50/50 Section of the LGPS the member pays half their normal contribution rate, but the employer continues to pay the full employer's contribution rate.

3. LGPS Employer contribution rates 2014/201517.7% 2015/201618.2% 2016/201718.7%

4. BandSalary RangeContribution % 1£0 to £13,6005.5% 2£13,601 to £21,2005.8% 3£21,201 to £34,4006.5% 4£34,401 to £43,5006.8% 5£43,501 to £60,7008.5% 6£60,701 to £86,0009.9% 7£86,001 to £101,20010.5% 8£101,201 to £151,80011.4% 9Over £151,80112.5% LGPS EMPLOYEE CONTRIBUTION RATES 2015/2016

5. PART TIME STAFF CONTRIBUTIONS The appropriate contribution rate is to be determined by the employer estimating the annual equivalent of the actual (NOT full time equivalent) pay to be received in a full scheme year (1 April to 31 March) rounded down to the nearest whole pound.

6. LGPS THE 50/50 OPTION MAIN section Contribution 50/50 Section Contribution Annual Pensionable Pay £20,000 Pension Build Up Rate 1/49th1/98th Gross monthly contribution amount £96.67£48.33

7. LGPS THE 50/50 OPTION MAIN section Contribution 50/50 Section Contribution Annual Pensionable Pay £20,000 Contribution Rate5.80%2.90% Annual Pension Build Up £408.16£204.08 Lump Sum Life Cover £60,000

8. LGPS AND MATERNITY LEAVE Child-related leave From 1 April 2014 if you are a new parent and have a period of relevant child related leave the amount of pension you build up won't be affected. Relevant child related leave covers all periods of Ordinary Maternity Leave, Ordinary Adoption Leave and Ordinary Paternity Leave and any paid Additional Maternity Leave, Additional Adoption Leave and Additional Paternity Leave. You will only pay your contributions on any pay that you receive. If you decide to take a period of unpaid additional Maternity, Adoption (usually from week 39 to week 52) or Paternity Leave you will not build up pension benefits. You can avoid this by paying SCAPCs. (Shared cost additional pension contributions). For more information on paying SCAPCs to buy back your 'lost' pension please contact your employer's payroll department directly

9. Employer Contribution Rates TP Change to the Employer Contributions rate from 1 September 2015 The Teachers’ Pension Scheme increased from 1 September 2015. The rate has increased from 14.1% to 16.48%.

10. TP Employee Contribution rates Lower Salary Higher Salary Contribution Rate in 2015/16 0£25,999.997.4% £26,000£34,999.998.6% £35,000£41,499.999.6% £41,500£54,999.9910.2% £55,000£74,999.9911.3% £75,000 + 11.7% Part time staff pay band relating to actual part time pay.

11. TP AND MATERNITY LEAVE What happens to my pension when I am on maternity or paternity leave? If you are receiving contractual or statutory pay, your pensionable service will continue to increase. If you are not receiving any pay, you will no longer be a member of the scheme. What level of contributions will I have to pay? If your pensionable earnings are reduced during sick leave, adoption leave, maternity leave, parental leave, paternity leave or additional paternity leave, the contributions you pay will be deducted from the actual salary you receive but using the contribution rate that would normally apply to you.

12. Career Average Revalued Earnings Both LGPS and TP are now CARE schemes How do LGPS an TP compare? What about pension built up until the change? How much information should you be giving new starters and staff?

14. LGPS and TP comparison LGPS CARE scheme since April 2014 Accrual rate = a 49 th Re-evaluation each year CPI Teachers Pensions CARE since April 2015 Accrual rate = a 57 th Re-evaluation each year CPI = 1.6% The Normal Pension Age of a member in the career average arrangement is either your state pension age or age 65, whichever is the later date.

15. Information for staff Contract cover letter – gives link to scheme information LGPS send new starters information on the post including how to set up an on-line account You are not expected to be an expert and you must not give advice More complex now with many members having two or 3 different parts to their pension

16. New Pensions factsheet available for staff Who is enrolled automatically How to opt out Employee contribution rates Transfer of benefits Accessing pension records on-line Explains Buy out for new TP members – must be done in first 6 months

17. TP Buy out You may want to purchase buy out, which is where a member with an Normal Pension Age (NPA)The age at which you're eligible to claim retirement benefits. over 65 wants to take their benefits before NPA. Members can pay extra contributions throughout their career to reduce the adjustments that’ll be made to their benefits if they take them before reaching their NPA. You’ve up to six months from entering pensionable employment to make an election, after that you cannot elect to purchase this flexibility.Normal Pension Age (NPA)The age at which you're eligible to claim retirement benefits.