The Superannuation Arrangements of the University of London

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Active Members ► Membership after Normal Pension Date

If you decide to keep working for a SAUL employer after Normal Pension Date, you need to decide whether or not you wish to continue contributing to SAUL. If you continue contributions your employer will also contribute on your behalf so you will continue to build up pension benefits until you retire. Please speak to your Pensions Officer who will ask you to confirm whether you wish to continue contributing by completing a ‘continuing service form’.

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Glossary

Your benefit options

If you retire after Normal Pension Date and continue to pay contributions up to the date of your retirement, you will receive:

• a pension of 1/80 of your Pensionable Salary at the date of your retirement for each year of Pensionable Service up to that date; plus

• a tax-free lump sum of three times your pension.

Your benefits will be at least as great as those payable to members who stop paying contributions at Normal Pension Date.

If you retire after Normal Pension Date but stop paying contributions at Normal Pension Date, you will receive:

• a pension of 1/80 of your Pensionable Salary at Normal Pension Date for each year of Pensionable Service up to Normal Pension Date; plus

• a tax-free lump sum of three times your pension.

We will increase your pension and your lump sum to compensate for the late payment. The increase will be at an enhanced rate between Normal Pension Date and the date of your retirement.

If you retire after Normal Pension Date and stop paying contributions between Normal Pension Date and the date you retire, you will receive:

• a pension of 1/80 of your Pensionable Salary for each year of Pensionable Service at the date you stopped paying contributions; plus

• a tax-free lump sum of three times your pension.

We will increase both your pension and your lump sum to compensate for the late payment. The increase will be at an enhanced rate between the date you stopped paying contributions and the date of your retirement.

Superannuation Arrangements of the University of London
1 King’s Arms Yard, London EC2R 7AF

Website last updated 18 May 2012

© 2012 SAUL Trustee Company