SAUL is one of the College's pension schemes and is available for staff in the professional, technical and operational job families, grade 3b and below. SAUL members build up their pension based on their Career Average Revalued Earnings (CARE). This means members get a pension based on the CARE Salary they earn in each CARE Year.

A CARE Salary is an annual salary including any permanent allowances (like London weighting or responsibility allowance) and overtime. Bonuses and commissions aren't included.

The SAUL Scheme

Eligibility

SAUL is for staff in Professional, Technical, Operational, Learning and Teaching job families- Level 3b and below.  The College automatically enters all eligible staff into the scheme, as required by law. 

The scheme and what you will get

Being a SAUL member means you'll get:

  • a pension and tax-free lump sum when you retire
  • a pension and tax-free lump sum if you're too ill to work.

Your beneficiaries will get:

  • tax-free lump sums if you die
  • a pension if you die
  • child allowances if you die, payable until your child's 18th birthday or their 23rd birthday if they're still in full-time education.

SAUL pensions increase each year.

Your SAUL pension is flexible, this means you can choose the pension and lump sum that suits you when you retire.

You can find out more about retirement options in the Getting your pension section.

You can find out how your pension is calculated on the how do you work out my pension? page.

 

Contributions and how much it costs

You pay 6% of your salary in to SAUL.

The money you pay in is taken from your annual salary plus any permanent allowances (for example, London weighting or responsibility allowance) and overtime. Bonuses and commissions are not included.

The College pays towards your pension too. They pay 16% of your salary in to your pension each month.

Access SAUL's take home calculator to show you the difference paying in to SAUL will make to the money you receive each month.

How a SAUL Pension is worked out

From 1 April 2016, all SAUL members build up pension based on their Career Average Revalued Earnings (CARE). This means members get a pension based on the CARE Salary they earn in each CARE Year.

A CARE Salary is an annual salary including any permanent allowances (like London weighting or responsibility allowance) and overtime. Bonuses and commissions aren't included.

The CARE Year runs from 1 April to 31 March and members get a pension of 1/75th of their CARE Salary for each complete (or part) year they pay in to SAUL (or the Colleges pays in for members if they're a Salary Sacrifice member).

SAUL work out how much pension members get every year. Each year's pension increases until a member retires and this is called a CARE Block.

When a member retires, SAUL adds up all the CARE Blocks to work out the total pension.