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Top earners face pension increase

28 July 2011

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Public sector workers earning more than £100,000 face having to pay thousands more each year towards their pension, it has been reported.

Some five million workers will be affected by the government’s plans to increase pension contributions, with top earners being hit the hardest, according to information obtained by the Daily Telegraph.

A nurse earning £25,000 will only be £12 a month worse off under the changes, while a hospital consultant with an annual salary of £130,000 will face paying an extra £160 a month when tax is taken into account in both cases, the newspaper said.

Workers earning more than £100,000 will have to pay an extra £3,400 a year, equal to £284 a month, for their final salary scheme, the newspaper said.

The changes will mean a doctor earning £100,000 a year will face paying an extra £2,000 a year in contributions, it reported.

Meanwhile NHS workers earning £50,000 will have to contribute an extra £768 a year, teachers £696 and civil servants £684, it claimed.

And for those earning £21,000, they face paying an extra £108 a year in contributions, it said.

Copyright © Press Association 2011