Your employer pays the balance of the cost of providing your benefits.
Every three years an independent review, known as a valuation, is undertaken to calculate how much your employer should contribute to the Scheme. The date of the last valuation was 31 March 2019 with employer contribution rates being set for the period 1 April 2020 to 31 March 2023. The current employer contribution rates are shown in the Rates and Adjustment Certificate contained within the Berkshire Pension Fund Valuation Report 2019.
Please note the LGPS is a Defined Benefit (DB) pension arrangement which means the benefits you build up are not based on the contributions that you or your employer pay. The benefits paid from the LGPS are defined in legislation and therefore set out in law. There are set formulae and strict regulations governing how benefits are calculated and paid.