The Government has introduced new laws to make it easier for people to save for their retirement. The automatic enrolment laws require all employers to enrol their workers into a workplace pension scheme, if they are not already in one and to make contributions to the scheme.
Each employer has its own implementation date for auto enrolment and for the University it is 1 April 2013. From this date if you are a contracted member of staff at Level 1a or above and you meet the criteria below you will be automatically entered and make contributions into either USS or PASNAS if you are not already a member.
If you are paid by fee claims or work on our Temp Bank and meet the criteria below you will be automatically enrolled and make contributions to the National Employment Savings Trust (NEST) pension scheme.
The University will automatically enrol all workers who:
- Are at least 22 years old and
- are below state pension age and
- earn more than £787 p.m. (£9,440 p.a.)** and
- work, or ordinarily work, in the UK (under their contract).
If you do not meet the criteria you can choose to opt into the NEST scheme and details of how to do this will be made available in due course.
The Payroll & Pensions team is working together with the Human Resources team and will be writing to all staff in the near future with more information about the changes and how they will affect you. General information about Auto Enrolment and NEST will also be distributed around the campus.
If you have any questions at this time please email [email protected]
** The figures apply to the 2013/14 tax year and will be reviewed by the Government each year.