As soon as you start your new job, you will be eligible to join Member Support Staff Pension arrangement. This is a defined contribution pension scheme, this means that you would have your own individual pension savings pot. The contributions paid into your pot are invested and the amount of money available when you come to retire will depend on how much has been paid in and how the investments have performed. The Scheme is run by a company called Aviva. Your employer would contribute 10% of your gross salary to your Pension Scheme with Aviva on your behalf.
In addition to the 10% employer pension contribution currently paid, where a member of staff chooses to make a personal contribution to their pension, those personal contributions will be matched by an employer contribution up to a maximum of 3% of actual salary paid. Personal contributions may be paid via salary sacrifice. Under this arrangement, you give up part of your salary and this is paid into your pension pot for you, as a result you and your employer pay less National Insurance. To encourage pension saving, your employer will pay their National Insurance saving into your pension pot. You also get full tax relief on your contributions.
You’ll be provided with full details about your pension options upon appointment, however if you’d like to find out more in the meantime please visit the My Member Support Staff pension website