SAUL news
SAUL have now made formal proposals for possible changes to their benefits. No changes can be made until all SAUL members have been consulted. In the first week of January details of the consultation process will be sent to all current and eligible SAUL members by e-mail. If you do not have e-mail a hard copy will be posted to you. Please take time to read this important document.
You can reply direct to SAUL or e-mail Jenny Casey| if you are unsure about any of the proposals.
USS Update
From 1st October 2011 the USS Pension Scheme has two sections- Final salary and Career average pension scheme. USS have restructured their website to reflect the changes, in order to make a distinction for existing members (final salary) and new members from 1st October (Career Revalued benefits). USS gave a presentation on the changes to members on Monday 19th September 2011, and slides are available at USS presentation|. More on the changes can be found at USS News.|
If you are a new member of staff joining the School after 1st October 2011 you should read the USS guide| for new employees to help you determine which USS scheme you will be placed in.
If you are unsure please contact Jenny Casey| in the Pensions Office ext 7093.
The Pensions Office provides information on all pension matters directly to staff, or through the HR teams in relation to any potential or planned retirements.
The School subscribes to two pension schemes:
Universities Superannuation Scheme (USS) and Superannuation Arrangements of the University of London (SAUL)
One of the many benefits of joining the staff of the London School of Economics is access to a final salary pension scheme. Membership of a pension scheme is not compulsory, but new members of staff are deemed to be in membership providing they have been issued with contract of employment for 2 months. Members of USS and SAUL participate in the schemes under the PensionPLUS contribution method, which reduces the amount of National Insurance contributions paid every month, resulting in higher take home pay.
Further information is available via the links on the right. You can also contact the Pensions Officer, Jenny Casey| who can advise on eligibility to join the schemes.
However, please note that we are not registered to give financial advice of any kind. If you have any queries of a specific financial nature, please contact an Independent Financial Adviser (IFA)|. The Financial Services Authority (FSA)| can also help. It is an independent watchdog set up by government to regulate financial services and protect your rights. By law, most financial services firms must be authorised by the FSA. They ensure that all authorised firms are run in a prudent and financially sound way and regulate the way many (but not all) of them do business with you.