Teachers’ Pensions have recently finalised and issued their guidance on the new tiered contribution rates effective from 1 April 2012.
But how will it affect your employees. The highest paid employees may see their contribution rate increase by over 37% whilst the lowest remain unaffected.
There is a useful page on the Teachers’ Pension website that contains a contributions increase calculator
The Guidance, which you can find more information and a copy of here Teachers’ Pension Tiered Contributions looks at the impact and what you should do next.