Scheme information

Current rates

Income tax rates 2018 / 2019 2017 / 2018
Band Taxable income Tax rate Tax rate
Personal Allowance Up to £11,500 0% 0%
Basic rate £11,501 to £45,000 20% 20%
Higher rate £45,001 to £150,000 40% 40%
Additional rate over £150,000 45% 45%
Basic State Pension 2018 / 2019 2017 / 2018
New State Pension £164.35 p.w. £159.55 p.w.
Old State Pension £125.95 p.w. £122.30 p.w.
Limits to tax efficient pension savings 2018 / 2019 2017 / 2018
Annual Allowance £40,000 £40,000
Tapered Annual Allowance applies to those with taxable income in excess of: £150,000 £150,000
Money Purchase Annual Allowance £4,000 £4,000
Lifetime Allowance £1,030,000 £1,000,000
Scheme Specific Earnings Cap
£150,600 £145,800
CARE Section contribution rates - 2018 / 2019
Selected basic contribution rate (% of pensionable pay) Build rate Accrual
5.50% 1.00% 1/100th
7.00% 1.25% 1/80th
8.50% 1.43% 1/70th
10.00% 1.67% 1/60th
Age related (reviewed in March of each year). 1.82% 1/55th

You can increase/decrease your elected contribution rate and build rate once a year on 1 April by completing a ‘Build rate change form’. This form can be download from the Document library section of the website.


CARE Age-related contribution rates
Member's age Member contribution rate
16 11.2%
17 11.3%
18 11.3%
19 11.3%
20 11.3%
21 11.4%
22 11.4%
23 11.4%
24 11.5%
25 11.5%
26 11.5%
27 11.6%
28 11.6%
29 11.6%
30 11.7%
31 11.7%
32 11.7%
33 11.8%
34 11.8%
35 11.8%
36 11.9%
37 11.9%
38 11.9%
39 12.0%
40 12.0%
41 12.1%
42 12.1%
43 12.2%
44 12.2%
45 12.3%
46 12.3%
47 12.4%
48 12.4%
49 12.5%
50 12.5%
51 12.6%
52 12.7%
53 12.7%
54 12.8%
55 12.9%
56 13.0%
57 13.0%
58 13.1%
59 13.2%
60 13.3%
61 13.4%
62 13.4%
63 13.5%
64 13.6%
65 13.5%
66 13.4%
67 13.2%
68 13.1%
69 13.0%
Note:
  1. These rates apply for members in the CARE section of the AA Pension Scheme who have chosen the 55ths accrual rate.
  2. The table above shows the total member contribution rate.
  3. The rates are expressed as a percentage of pensionable pay.
  4. These rates apply from 1 April 2018 to 31 March 2019.