Details of pension scheme costs and benefits. Scheme costs Both the University and Members of the Staff Benefits Scheme (SBS) make contributions to the scheme. The contributions are paid as follows: HTML Effective Date Employee Contribution Employer Contribution Total 01/07/2022 9.1% 25.8% 34.9% 01/08/2019 9.1% 19.8% 28.9% 01/01/2017 8.0% 16.2% 24.2% 01/08/2009 7.50% 20.30% 27.80% 01/08/2008 7.00% 18.90% 25.90% 01/01/2008 6.50% 17.50% 24.00% 01/08/2007 6.00% 18.00% 24.00% 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. Pensions plus Scheme benefits For details of the scheme benefits please contact the Pensions Office. This article was published on 2024-07-01
HTML Effective Date Employee Contribution Employer Contribution Total 01/07/2022 9.1% 25.8% 34.9% 01/08/2019 9.1% 19.8% 28.9% 01/01/2017 8.0% 16.2% 24.2% 01/08/2009 7.50% 20.30% 27.80% 01/08/2008 7.00% 18.90% 25.90% 01/01/2008 6.50% 17.50% 24.00% 01/08/2007 6.00% 18.00% 24.00%