How much does it cost?

You currently pay between 5.5% and 12.5% of the pay you receive for your contractual hours. The rate you pay depends on which pay band you fall into.
If you work part-time your rate will be based on the whole-time pay rate for your job, although you will only pay contributions on your actual pensionable pay. (To estimate your contribution click here).
Here are the pay bands (whole time pay) and rates that apply from 1st April 2022 to 31st March 2023 (the band ranges will be increased each April in line with the cost of living:

• Up to £15,000 = 5.5%
• £15,001 to £23,600: = 5.8%
• £23,601 to £38,300: = 6.5%
• £38,301 to £48,500: = 6.8%
• £48,501 to £67,900: = 8.5%
• £67,901 to £96,200: = 9.9%
• £96,201 to £113,400: = 10.5%
• £113,401 to £170,100: = 11.4%
• more than £170,101= 12.5%

For more information, please see the Dyfed Pension Fund Webpage.