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How the Pension Cost is Calculated

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The pension contribution is a straight percentage of the earnings depending upon which scheme the member of staff belongs to. The following table shows the percentages payable for the different schemes.

Pension schemes

 

Pension - Worked Example

Lecturer A, UAP Point 8 £22,954
fte 100%
Pension USS
Employment period 01/08/2004 to 5/9/2004

The salary for the period in question is £2323 (including inflation)

USS percentage contribution is 14%
2323 x 0.14 = 325.22 (rounded to £325)


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