A consultation on a proposed change in member contributions to the University of Southampton Pension & Assurance Scheme for Non-Academic Staff (PASNAS) will start on Monday 17 June 2019.
Members of the scheme are invited to share their views.
Proposal for change
PASNAS is a Final Salary Defined Benefit pension scheme with current contributions for members of 6.35 per cent of pensionable salary. If the proposal goes ahead, member contributions will increase to 7.20 per cent of pensionable salary from 1 January 2020. Their benefits in PASNAS are unchanged in this proposal.
Why is this happening?
The 2018 triennial valuation of PASNAS, agreed by the Trustees on 17 May 2019, calculated that the cost of providing pensions for future service had risen by 2.55 per cent of pensionable salary. The University is proposing to share this increase with members on a one-third member, two-thirds University basis. This would mean an increase of 0.85 per cent for members and an increase of 1.70 per cent for the University.
Consultation period
The proposed change means increases to contributions paid by PASNAS members, and the University would like to hear their views.
Members have until Friday 16 August 2019 to respond so that the University can take members views into consideration before making its final decision.
Group presentations
| Date | Time | Venue | Location – Register by clicking on link |
| 24 June | 10:00 – 11:00 | Highfield | B46 LTA |
| 24 June | 13:00 – 14:00 | NOCS | NOC/101/06 LabM |
| 24 June | 18:00 – 19:00 | Highfield | B46 LTB |
| 25 June | 10:00 – 11:00 | WSA | West 1011 L/T |
| 9 July | 09:00 – 10:00 | SGH | LT2 |
| 9 July | 11:00 – 12:00 | Highfield | 02A 2065 L/T H |
Further information can be found by:
- Attending one of the group presentations to be held during the consultation period (see above for a list of sessions and how to register).
- Emailing the ‘PASNAS proposal for change’ email address at [email protected]
- Writing to PASNAS Consultation, c/o Rebecca Dodd, Mercer, 1 Whitehall Quay, Whitehall Road, Leeds, LS1 4HR
The University will also be consulting relevant trade union representatives to seek their responses to the proposed changes.
All responses received during the consultation period will be considered before a final decision is made on any changes to be implemented.
A pack of information will be emailed and posted to all PASNAS members.
