How it will affect you from 1 May 2013.
With effect from 1 May 2013 the University will be required to automatically enrol eligible staff into a pension scheme. Automatic enrolment is a legislative change and applies to every employer within the UK. The reforms are being introduced to help individuals plan and save for their retirement.
The legislation requires all employers to automatically enrol staff aged 22 or over, under state pension age and earning above the automatic enrolment earnings trigger, (currently £787.00 per month) into a qualifying workplace pension scheme, if they are not already in one. In some cases, the automatic enrolment date will be delayed.
All staff will receive a letter later this month, sent to your home address, explaining how you will be affected personally.
It is important to read this letter as it will explain how you will be affected by the change in legislation.
The University has a long standing policy of automatically enrolling most new staff in accordance with the rules of the respective pension schemes. Therefore, in light of the new legislation, most new staff appointed on or after 1 May 2013, including part-time and temporary staff, will be enrolled into the Teachers’ Pension Scheme, if they are academic staff, or the Local Government Pension Scheme, if they are support or research staff. In certain circumstances, the automatic enrolment date will be delayed.
A few staff in the Dental Academy are permitted to retain membership of the NHS pension scheme so automatic enrolment will work a little differently for them.
Members of staff who have been automatically enrolled into a pension scheme will have the opportunity to opt out if they wish.
For information on automatic enrolment and the different pension schemes, visit www.port.ac.uk/automaticenrolment.
