SBS News Update at December 2022 Statement of Investment Principles - November 2022 Update at June 2022 The University and the Trustees of SBS have agreed the following contribution levels as part of the agreed 31 March 2021 triennial valuation:- Employee contribution will remain at 9.1% of salary Employer contribution will increase to 25.8% of salaries from 1 July 2022 onwards. In addition the University will pay deficit reduction contributions of £3,388,568 in June 2022, £1.5m in April 2023, £1.5m in April 2024 and then an amount payable annually, starting from April 2025 with the final payment due in April 2029, which will be a proportionate contribution reflecting the period from 1 April 2029 to 31 December 2029. The amount payable will be equal to £1.1m plus any increase in the Consumer Price Index from September 2021 to the September preceding the payment date. Update at September 2020 Statement of Investment Principles – September 2020 Updates at August 2020 We wrote to you earlier in the year to ask your views about proposed changes to the University of Edinburgh Staff Benefits Scheme (SBS). To recap, the University proposed to increase both the member and employer contribution rates to the Scheme, to address the rising cost of providing the benefits. The increases are stated in the table below: Contribution rate Current Proposed from 01/08/19 Member 8.0% 9.1% Employer 16.2% 19.8% Thank you to those who provided feedback, which we have listened to carefully while making our decision. Based on the results of the consultation process, the University has decided to proceed with implementing the contribution increases with effect from 1 August 2019. The University is consulting with SBS members in relation to its proposal to increase member and employer contribution levels. You can find the consultation document here along with some FAQs and additional data. SBS Proposal Document Summary of 31 March 2018 SBS Valuation Results SBS Timeline 2018 This article was published on 2024-07-01
