The University offers PensionsPlus as a way to make pension contributions through a salary exchange arrangement. However, PensionsPlus is not available for public services pension schemes such as TPS. For most employees who are eligible, PensionsPlus reduces National Insurance contributions meaning staff take home more pay than they would outside of PensionsPlus.
All eligible staff will be automatically enrolled into a qualifying workplace pension scheme, to comply with the law on workplace pensions.
When starting their employment, eligible staff will be informed in writing the details of the automatic enrolment and will have a period of time in which to opt out if they wish.
University Superannuation Scheme (USS)
Membership of USS is open to all non-teaching academic staff including research staff and all senior management staff, grades SPS and above.
The USS Retirement Income Builder is a type of defined benefit pension scheme where benefits are based on each year's salary throughout the period of membership (on a Career Revalued Benefits basis). Members pay a monthly contribution equal to 6.1% of salary.
Members will also have access to the USS Investment Builder, a defined contribution section where benefits at retirement are based on the contributions made by you and the University and the performance of funds that your contributions are invested in. All members have the option to join this section in addition to the USS Retirement Income Builder, whilst earners above the salary threshold of £74,208 (1 April 2026) will join automatically and pay core contributions above the salary threshold into this section.
The scheme provides a monthly pension and a tax-free lump sum on retirement and death benefits for families and dependents. Full details are available by following this link to the USS website.
The Superannuation Arrangements of the University of London (SAUL)
Membership of SAUL is open to professional services staff grades 1-10.
The SAUL scheme is made up of a ‘defined benefit’ section and a ‘defined contribution’ section. New starters will either join the defined benefit section if they have previously been a member of SAUL and have benefits in the scheme or the defined contribution section if they are new to the scheme.
Both sections of the scheme provide a monthly pension and a tax-free lump sum on retirement and death benefits. Further details are available to view on the SAUL website:
Defined Benefit section SAUL | Home
Defined Contribution section SAUL | SAUL's DC section
Teachers’ Pension Scheme (TPS)
Membership of TPS is open to academic teaching staff.
TPS is a type of defined benefit scheme where benefits are based on each year’s pensionable salary throughout the period of membership (on a Career Average basis). Member contributions vary according to annual salary rate.
Further details, including contribution rates, can be found on the TPS website.
PensionsPlus
PensionsPlus is a way to make pension contributions to either USS or SAUL which reduces payment of National Insurance deductions, meaning staff take home more pay than they would by contributing to their pension outside of PensionsPlus. PensionsPlus. All salaried staff are automatically opted in to PensionsPlus unless they chose to opt out.
NOTE: PensionsPlus is not available in public sector pension schemes such as TPS.