CONTRIBUTION RATES FOR 2024

CONTRIBUTION RATES FOR 2024

 

Like most things, the cost of providing you with the benefits of RMT membership increases every year and, in most cases, will result in an increase to your contributions to help us maintain and improve those benefits and our services to members. 

 

Against the high rate of RPI inflation in recent years, your Union has kept contributions at the same rate since 1^stJanuary 2022. Following the announcement of the September 2023 RPI (8.9%), the National Executive Committee (NEC) reviewed our contribution rates in accordance with our Rules. 

 

Having considered the matter, the NEC determined that the full contribution rate will increase by 16p per week (3%) with effect from 1^st January 2024. 

 

The table below provides a summary of the new rates:

 

Frequency	Full Rate	Low Rate  (43% of the Full Rate under Rule 2, Clause 9)
Weekly	£5.56	£2.39
Four-Weekly	£22.24	£9.56
Monthly	£24.09	£10.36

 

Members will be eligible to pay our low rate if their basic salary is less than £24,308 per annum.

 

In instances where a member’s basic annual salary goes above £24,308, they are required to be transitioned to our Full Rate in stages (under Rule 2, Clause 16). 

 

A short guide to RMT’s Rules regarding membership contributions is available at https://bit.ly/3Sv22Kg which summarises the rates that may be payable depending on a member’s current circumstances and any changes arising thereafter.

 

Noting the decisions taken by your Union to keep contributions at affordable levels against high RPI inflation, I am sure you will agree that this small increase of 16p per week to our full contribution rate represents excellent value for money and demonstrates our ongoing commitment to you.