We offer generous occupational pension schemes for all eligible staff members. All these schemes allow members to make additional voluntary contributions to secure additional benefits.
- Universities Superannuation Scheme (USS): a national scheme for staff on academic and academic-related grades; as a member you will accrue a pension of 1/75 of your salary and a cash lump sum of 3/75 of your salary for each year of service. Members of the scheme benefit from life cover and a package of protection for beneficiaries in the event of death in service. You will also gain access to the USS Investment Builder.
- University of Oxford Staff Pension Scheme (OSPS): the University's own scheme for staff on pay scales other than academic or academic-related. The scheme is also open to similar employees of colleges and othe participating institutions. As a member you will contribute a minimum of 4% of your pensionable salary each month and your employer pays at least 6% to your fund. In addition OSPS provides for death in service and incapacity.
- National Health Service Pension Scheme (NHSPS): a national scheme for NHS employees,which applies within the University only to those staff who were active members of the NHSPS immediately prior to employment by the University and meet other criteria.
Subject to certain limited exceptions, if you are eligible to become a member of either USS or OSPS and you join the pension scheme, you are automatically enrolled in the University's salary exchange scheme for pension contributions from the date of joining the pension scheme for OSPS members and from three full months after joining the pension scheme for USS members.
Further details of the scheme are in section 3.5 of the Handbooks for Support Staff and Academic-related Staff.
A new employee may opt out of Salary Exchange. To do so you must give notice in writing to the Payroll Manager that you do not wish to join the scheme at least one month before you are automatically enrolled.
Read more: Pensions website
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