CHANGES FROM 1 APRIL 2024 TO EMPLOYER CONTRIBUTION RATE FOR MEMBERS OF THE NI TEACHERS’ PENSION SCHEME (NITPS)

This circular sets out a change from 1 April 2024 to the Employer Contribution Rate for NITPS members.

• On 1 April 2024, the employer contribution rate for members of the NITPS will change in line with the 2020 Actuarial Valuation results.

• The current employer contribution rate of 25.1%, will apply until the 31 March 2024.

• Employer contributions will increase to 29.1% from 1 April 2024.

Contributions are based on a member’s annual salary rate (actual earnings)

These arrangements apply to all members i.e. both those who remain in final salary arrangements and those in career average arrangements.