Option 1- At least basic pay* is pensionable | Option 1- At least basic pay* is pensionable | Option 2- Qualifying earnings (or at least 85% of total pay) are pensionable | Option 2- Qualifying earnings (or at least 85% of total pay) are pensionable | Option 3- Total pay is pensionable | |
---|---|---|---|---|---|
Option 1- At least basic pay* is pensionable | Option 1- At least basic pay* is pensionable | Option 2- Qualifying earnings (or at least 85% of total pay) are pensionable | Option 2- Qualifying earnings (or at least 85% of total pay) are pensionable | Option 3- Total pay is pensionable | |
Payment Phasing Period | Minimum Employer Payment | Minimum Total Gross Payment | Minimum Employer Payment | Minimum Total Gross Payment | Minimum Employer Payment |
Staging date to Sept 2017 | 2% | 3% | 1% | 2% | 1% |
Oct 2017 to Sept 2018 | 3% | 6% | 2% | 5% | 2% |
Oct 2018 onwards | 4% | 9% | 3% | 8% | 3% |