News
2024
27 February 2024 RCPS Employee Contribution Rates for 2023-24
The RCPS Management Board have approved the RCPS employee contribution rates for the period 1 April 2024 to 31 March 2025.
The changes to the 2023-24 rates are:
- An increase in the upper earnings for the first tier to £34,199 and
- An increase in the lower earnings for the second tier to £34,200
Your main scheme benefits are not related to the contributions deducted. All employers and payrolls have been informed of the new rates and asked to implement them in their systems.
Employee Contribution Rates from 01 April 2024
| Annualised Pensionable Earnings | Member Contribution rate % |
|---|---|
| Up to and including £34,199 | 4.60 |
| £34,200 - £56,000 | 5.45 |
| £56,001 - £150,000 | 7.35 |
| £150,001 and above | 8.05 |
There is more information on our Contributions page about how contributions are calculated
31 January 2024 2024 Pension Increase
For the year beginning 8 April 2024 there will be an increase based on CPI as at September 2023 of up to 6.7%.
Pensions are reviewed annually in line with Treasury Orders. This review is called the annual Pension Increase (or PI).
The Treasury Order takes account of the previous September's Consumer Prices Index (CPI) figure to determine what the adjustment will be. For information, the CPI for the previous years were:
- Year beginning 10 April 2023 an increase of 10.1%
- Year beginning 11 April 2022 an increase of 3.1%
The Pensioners page on the JSS website has been updated to show the 2023 pension increase.
2023
6 December 2023 Added Pension Reminder 2024
Members in Classic, Classic Plus, Premium and Nuvos have the option to top up their pension by buying Added Pension.
Details for 2024 can be found in the Added Pension Reminder (PDF, 192KB) - opens in new window -.
Please note, that we must receive the relevant forms by the deadlines stated or we will not be able to process your applications.
02 August 2023 Annual Benefit Statements 2023
Annual Benefit Statements have now been issued to all eligible members. If you have not received yours please email statements@jss.ukri.org.
Further information regarding your statement and the information that it holds about your pension can be found on the Annual Benefit Statements page.
22 February 2023 2023 Pension Increase
For the year beginning 10 April 2023 there will be an increase based on CPI as at September 2022 of up to 10.1%.
Pensions are reviewed annually in line with Treasury Orders. This review is called the annual Pension Increase (or PI).
The Treasury Order takes account of the previous September's Consumer Prices Index (CPI) figure to determine what the adjustment will be. For information, the CPI for the previous years were:
- Year beginning 11 April 2022 an increase of 3.1%
- Year beginning 12 April 2021 an increase of 0.5%
The Pensioners page on the JSS website has been updated to show the 2023 pension increase.
01 February 2023 RCPS Employee Contribution Rates for 2023-24
The RCPS Management Board have approved the RCPS employee contribution rates for 2023-24.
The changes from the current arrangement are in the first tier, where the earnings threshold increases from £23,100 to £32,000, and the second tier, which now starts from £32,001.
This will mean those members with annualised earnings below £32,000 will see a decrease in their pension contributions. This change does not affect the pension you accrue; please remember that your pension is based on your earnings, your time in the scheme and a scheme accrual rate.
Your main scheme benefits are not related to the contributions deducted. All employers and payrolls have been informed of the new rates and asked to implement them in their systems.
Employee Contribution Rates from 01 April 2023
| Annualised Pensionable Earnings | Member Contribution rate % |
|---|---|
| Up to and including £32,000 | 4.60 |
| £32,001 - £56,000 | 5.45 |
| £56,001 - £150,000 | 7.35 |
| £150,001 and above | 8.05 |
There is more information on our Contributions page about how contributions are calculated
05 January 2023 Added Pension year end deadlines
Members in classic, classic plus, premium and nuvos have the option to top up their pension benefits by buying Added Pension.
If you are interested in making a one-off lump sum contribution into the current scheme year (2022-23), and/or setting up a monthly purchase for the next scheme year (2023-24) please read our Added Pension Reminder 2023 (PDF, 364KB) - opens in new window -.
Please note that if we don’t receive the relevant forms by the deadlines stated we will not be able to process your applications.
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