Employee Benefits - Pensions
There are 3 pension schemes administered by the University:
- Universities Superannuation Scheme for Academic & Academic-Related Staff (USS)
See the USS Website
for details. - Teachers' Pensions (TPS) for Academic staff of the former University College Salford. This scheme is not available to new academic members of staff
See the TPS Website for details. - Local Government Pension Scheme for Support members of staff.
See the LGPS Website for details.
Who can join?
Any member of staff irrespective of whether your contract is full-time, part-time, permanent or temporary.
What is the cost?
USS members pay 7.5% or 6.5% of gross pay depending on which section of the USS they are eligible for. Further details are available from the USS website. TPS members pay 6.4% of gross pay. LGPS Members pay between 5.5% and 7.5% depending on their gross annual salary (at full time equivalent rate for part time staff).
What are the benefits?
- A guaranteed annual pension at retirement
- In many cases a Tax free lump sum at retirement. Please see the relevant pension scheme website for more information.
- Life cover during working life equivalent to 3 times annual salary
- Pensions for spouses, civil partners or nominated co-habiting partners (for LGPS members) as well as pensions for dependant children
- Immediate payment of your pension if you stop work permanently because you are ill, which may be enhanced, depending on the severity of the illness.
BenefitsPlus Pensions
Members of the USS pension scheme will be automatically opted into BenefitsPlus Pensions unless you let us know that you wish to opt-out.
Further information
Please contact Rachel Nield, Pensions Officer - tel. 0161 295 4193, e-mail: R.Nield@salford.ac.uk