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University Pension Schemes

The University administers 2 pension schemes: Lothian Pension Fund for Technical and Support Staff; and the Scottish Teachers Superannuation Scheme for Academic Staff.

 

 

 

Prudential pension seminars February 2018

 

Prudential will be running seminars on pensions and providing information on tax efficient ways to boost your retirement savings through AVC's (Additional Contribution Savings).

 

For more information and how to register please see the invite for Lothian Pension Fund or Scottish Teachers Superannuation Scheme.

 

 
 
 

Lothian Pension Fund

Technical and Support Employees who are on contracts of more than 3 months automatically join the scheme. Employees on a shorter contract which is then extended to longer than 3 months will have the opportunity to back-date their contributions to their start date with the University.

 

Should you wish to opt out from the scheme, please complete the opt out form available from http://www.lpf.org.uk  and send the completed form to Payroll in room 7.B.37 Sighthill.

 

If you previously opted not to join the scheme, you can later become a member by emailing Payroll.  

 

Key Facts about Lothian Pension Fund

Employers contribution = 19.4%
Retirement Age = optional from 60-65
Premature Retirement = from age 55 with reduced benefits at the employer's discretion
Increased Benefits = Additional Voluntary Contributions, Free-Standing Additional Voluntary Contributions, Added Regular Contributions, Concurrent Schemes.

 

Contribution rates for employees from April 2017

 

Actual Pensionable Pay
 Employee Contribution rate 
On earnings up to and including £20,700
5.5%
On earnings above £20,700 and up to £25,300
 7.25%
On earnings above £25,300 and up to £34,700
8.5%
On earnings above £34,700 and up to £46,300
9.5%
On earnings above £46,300
12%

 

For more information please visit the Lothian Pension Fund 

Scottish Teachers Superannuation Scheme

 

Academic Employees on permanent or temporary contracts automatically join the scheme. 

Should you wish to opt out from the scheme, please contact the Scottish Teachers' Superannuation Scheme (STSS) at http://www.sppa.gov.uk If you do decide to opt-out of the STSS scheme, but later change your mind, you may apply to join at any time during your employment. Please email Payroll to confirm that you wish to opt in to the scheme.

 

Key Facts About the Scottish Teachers' Superannuation Scheme

Employers contribution = 17.2%
Retirement Age = from age 60-70. At age 70 benefit will automatically be paid if still teaching.
Premature Retirement (e.g. redundancy, efficiency exercise) = from age 50-59 actuarial reduction applies. This is at the employer's discretion.
Retirement Benefits = see website.
Increased Benefits = Additional Voluntary Contributions, Free-Standing Additional Voluntary Contributions, Past Added Years, Current Added Years.

 

Contribution rates for employees from April 2017

 

Actual Pensionable Pay
Contribution rate 2015/16
 
Up to £26,259
 
7.2%
£26,260 to £34,35,349
 
8.7%
£35,350 to £41,914
 
9.7%
£41,915 to £55,549
 
10.4%
£55,550 to £75,749
 
11.5%
£75,750 and above
 
11.9%

 

For more information please visit the Scottish Teachers' Superannuation Scheme Website.