Pension Salary Exchange
Arrangements for new appointments
New employees who become members of the USS or ERBS pension scheme become eligible to participate in Pension Salary Exchange after three full calendar months of employment. This means that you will pay employee pension contributions until you have completed three full calendar months’ service and then you will automatically participate in the Pension Salary Exchange scheme from the 1st of the month following this date – unless you exercise your right to opt-out.
Annual renewal
Each year, on 1 April, members of USS and ERBS have the opportunity to choose whether or not they wish to continue to participate in Pension Salary Exchange.
Your choices
- If you wish to continue to participate in Pension Salary Exchange, you don't have to do anything - you will automatically continue to participate.
- If you have previously decided not to be part of Pension Salary Exchange but would now like to enjoy the benefits of participating in Pension Salary Exchange, you should contact the Pensions Manager, Alison Rose, to obtain a form. You should return the completed form to the Pensions Office in Human Resources no later than 31 March 2012.
- If you have been participating in Pension Salary Exchange but wish to withdraw from 1 April 2012, you should contact the Pensions Manager, Alison Rose, to obtain a form. You should return the completed form to the Pensions Office in Human Resources no later than 31 March 2012.
More information about the Pension Salary Exchange
- Pension Salary Exchange FAQ
- NI contributions
- Ready reckoner for ERBS and USS members
- Current rates
- Joint statement with trade unions regarding Pension Salary Exchange
