Pension

Subject to the rules of the Universities Superannuation Scheme (USS), new appointments in the academic job families are eligible to join USS, which is a contracted-out scheme. The employee’s contribution rate and the contribution made by the University are determined by USS in accordance with the rules of the Scheme. Any change to the employee’s contribution rate agreed by USS will be notified to employees by the University.

Subject to the rules of the Universities Superannuation Scheme (USS), new appointments in the support staff job family, grades E and above are eligible to join USS, which is a contracted-out scheme. The employee’s contribution rate and the contribution made by the University are determined by USS in accordance with the rules of the Scheme. Any change to the employee’s contribution rate agreed by USS will be notified to employees by the University.

New appointments in the support staff job family, grades A to D (if aged under 75 and over age 18) are eligible to join the University of Exeter Retirement Benefits Scheme (ERBS), which is a contracted-out scheme. The employee's contribution is currently 6.25% of gross salary and the University contributes a sum agreed with the Trustees, acting on the advice of the Scheme's actuary (the "long term contribution rate"), to enable the Trustees to provide the benefits under the Scheme. These contribution rates may be increased in the future in accordance with the rules of the Scheme. Any future increases in contributions will be divided between employee and University on a 1/3rd to 2/3rd basis. However, any proposed increase to the University's long term contribution rate that will result in a contribution rate of higher than 20% will trigger a review of the Scheme.  Similarly the employee's contribution will not be increased beyond 7.5% without further collective consultation and agreement through the Joint Negotiating Committee. Any changes to the employee’s contribution rate will be notified to employees in writing by the University

Subject to meeting the eligibility criteria, staff will automatically become members unless they opt out in accordance with the rules of the relevant scheme.

Where staff in the support staff job family are promoted to a post graded E or above, or their current post is regraded E or above, they will not be eligible to continue their membership of ERBS. Transfer of benefits between ERBS and USS will be subject to the scheme rules applicable at that time.