As a new member of staff you are automatically enrolled into either the Universities Superannuation Scheme (USS), Superannuation of University of London (SAUL), or if you are an existing member of the NHS scheme, you may be able to continue your membership.   

Levels of Contribution

Pension Scheme Employee Contribution Employer Contribution Total Contribution
 USS 6.1% 14.5% 20.6%
 SAUL CARE 6% 19% 25%
 SAUL Start 6% 15%* 21%
 NHS Varies dependant on salary 23.78%  
 

 *Plus 1% of salary to help cover the costs of running the plan and paying death-in-service benefits’

Payment Options

New Starters Information

Option One

PensionSMART Salary Sacrifice Method

This is the preferred method for USS and SAUL. You do not make any direct payments to the pension scheme, and your salary is reduced by the percentage you would otherwise contribute. Imperial contributes both the employer and employee percentage directly to the scheme on your behalf. As a result, your National Insurance contributions will be lower, which consequently increases your take home pay.

Option Two

Non Salary Sacrifice Contribution Method

You contribute the required percentage of your Pensionable Salary directly to either USS or SAUL from your monthly salary and Imperial makes an employer percentage contribution. You will receive tax relief on your pension contributions but will not receive any relief for National Insurance contributions.

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Leaving the pension scheme (for PensionSMART members)

The information below specifically applies to all PensionSMART members.

If you leave/opt out of the pension scheme within the first three months of your employment, you will receive:

  • For everyone except SAUL Start members – a refund of employee contributions within the first three months (except for SAUL Start members where you can only receive a refund of contributions within the first 30 days of joining the scheme).
  • For SAUL Start members - your pension fund in SAUL Start will remain with Legal & General but no further contributions can be added.

Any refund will consist of the employee only contributions minus tax and national insurance.

If you leave/opt out of the pension scheme after the first three months of your employment, you will have the choice of:

  • Any pension or lump sum you have earned in the scheme will remain until you reach and age where you can start to receive your pension, or
  • You could decide to transfer your pension fund to another pension arrangement.
Opting out of the Pension scheme

If you wish to opt out/withdraw from the pension scheme, please complete the relevant form from the selection set out below and send it to pensions@imperial.ac.uk.

Please note that it is a legal requirement for Imperial to Auto Enrol you onto the relevant Pension scheme before actioning your opt-out request.