Employee Benefits - BenefitsPlus
These pages are designed to give you information about the University’s flexible benefits package called ‘BenefitsPlus’. The BenefitsPlus scheme enables University employees to increase their take-home pay by reducing their Income Tax and National Insurance Contributions (NIC). The scheme has been in place at the University from 1 March 2009.
For more detailed information about each strand of the scheme please follow the links below or click on the left-hand side menu bar.
How does it work?
BenefitsPlus operates under HM Revenue & Customs approved arrangements allowing you to take advantage of tax and national insurance efficiencies.
Under the scheme, the University adjusts the way it calculates the Income Tax and NIC that you pay each month which in turn increases your take-home pay. This adjustment requires you to agree to a set reduction to be made to your gross pay which is equivalent to the cost of the payment you would make on your pension contributions, car park permit and/or childcare vouchers.
This is a variation to your contract of employment and so may have some implications on other benefits you receive, like Working Tax Credits or Statutory Maternity Pay, so please make sure you read through the Frequently Asked Questions to see how it affects you.
Three strands of BenefitsPlus
Pension contributions, by their nature, are already tax efficient. BenefitsPlus Pensions allows USS members to additionally make their pension contribution NIC efficient.
Currently BenefitsPlus Pensions is applicable for USS pension contributions only. Unfortunately the Teachers Pension Scheme (TPS) and Local Government Pension Scheme rules (LGPS) rules do not currently permit us to apply this arrangement to pension contributions.
If you are a current University employee and a member of the USS pension scheme then you have been automatically entered into BenefitsPlus Pensions from March 1 2009 unless you notified us otherwise by completing an Opt-Out form. New employees get the option of joining BenefitsPlus Pensions at the time of appointment.
Please note, if you have opted out of BenefitsPlus Pensions then you cannot opt back in until the next annual renewal date of 1 March 2010. Contact your HR Link Manager if you are currently in BenefitsPlus Pensions but want to enquire about opting out.
Under BenefitsPlus Car Parking you will not pay Income Tax or NIC on the cost your car park permit. This arrangement can only be applied if you pay for your permit monthly as a deduction directly from salary.
You can join BenefitsPlus Car Parking at any time of year so if you already hold a car parking permit then all you need to do is complete an opt-in form and return it to Payroll. If you need to buy a permit, please contact the Car Parking Team.
Please note, TPS members may not benefit from this arrangement and must read Q.17 of the Car Parking FAQ before deciding to join.
BenefitsPlus Childcare Vouchers
This is a government backed initiative that enables you to purchase up to £243 per month in childcare vouchers directly from your salary. You won’t pay Income tax or NIC on the childcare vouchers and so you could save up to £1,196 per year (dependent on personal circumstances). If you are a University employee with children aged up to 16 you are eligible to participate.
Childcare Vouchers are widely accepted and can be used to pay for childcare such as breakfast and after-school clubs, holiday play schemes, nurseries, and registered childminders.
How much can I save?
Click on these links to see illustrations of how much you could save:
Please note: these calculations are a guide only. The amount you will save depends on your personal circumstances, e.g. your tax codes, whether you are a basic or higher rate taxpayer, or whether you receive existing benefits like Working Tax Credits.
Can I join?
Unfortunately not all University employees are eligible to join every strand of BenefitsPlus. Please see the specific Frequently Asked Questions pages for more detail.