Bank Contributions

If you joined The Scheme before 1st October 2017, the percentage of your Salary which the Bank will add to your Member Account is set at each 1st October based on your age at that date.

The current Bank contribution rates are as follows:

Age at 1st October	% of Salary
up to 39	10.5
40 - 44	12.0
45 - 60	13.5

New joiners from 1st October 2017 have a flat rate employer contribution of 10.5% of salary.

Your age at 1st October is 39.
The Bank will add 10.5% of your Salary each month into your Member Account.

If in any one month your salary is £3,500 per month the Bank will add the following to your Member Account:
10.5% x 3,500 = £367.50