Scheme costs & benefits
Details of pension scheme costs and benefits.
Both the University and Members of the Staff Benefits Scheme (SBS) make contributions to the scheme.
The contributions are paid as follows:
|Effective Date||Employee Contribution||Employer Contribution||Total|
|01/08/2019||9.1%||19.8% + £1million pa|
|01/01/2017||8.0%||16.2% + £1 million pa|
Tax relief on pensions contributions
Contributions are deducted from your gross monthly salary. You receive tax relief on the contributions that you make.
In addition, the University has entered into a Salary Sacrifice arrangement called Pensions plus. The result of this is that both the employee and the employer pay lower National Insurance contributions. More information is available on Pensions plus.
For details of the scheme benefits please contact the Pensions Office.