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The Superannuation Arrangements of the University of London |
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Active Members ► Part-time Service
If you work part-time your contributions to SAUL are based upon the salary you’re paid so your salary and service for pension purposes are converted to a full-time equivalent before we calculate your Pensionable Salary and Pensionable Service. (This means that the figure for Pensionable Salary increases and the figure for Pensionable Service decreases). |
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Irregular Part-time membership
To calculate your full time equivalent your employer provides us with your part-time percentage. This is the number of hours you are contracted to work compared to the equivalent full-time post expressed as a percentage. For example a member working 20 hours a week, where the full-time post would be 40 hours a week, would have a part-time percentage of 50%. SAUL divides your salary by the part-time percentage to give your full-time equivalent Pensionable Salary. For Pensionable Service SAUL multiplies your actual service by the part-time percentage to give your full-time equivalent Pensionable Service . This means that your Pensionable Salary is effectively the same as if you were working full-time but the Pensionable Service built up is reduced proportionately. EXAMPLE Over two years a member with a part-time percentage of 50% who earns £15,000 would have: Pensionable Salary of: £15,000 / 50% = £30,000 1 year x £30,000 = £375.00 This is the same as: 2 years x £15,000 = £375.00
Irregular Part-time membership You are considered an irregular part-time employee if your contract of employment does not state your normal hours of work or if your annual Salary is not paid evenly throughout the year. If you work irregular part-time hours, we settle your full-time equivalents at 31 March each year and base these on the hours you have worked and your earnings over the previous year. For more information please see ‘Irregular part-time employees joining SAUL’.
If, as a part-time worker, you die in service, we calculate the spouse’s pension using the full-time equivalent Pensionable Service you could have built up if you had stayed in service to Normal Pension Date. For more information please see death in service. SAUL also offers a tax-free lump sum equal to four times your yearly Salary at the date of death. If you are a regular part-time employee, we base the lump sum on your actual Salary, not the full-time equivalent. If you are an irregular part-time employee, we base the lump sum on a salary that we calculate by multiplying your current hourly rate by the number of hours you worked in the 12 months to the date you were last available for work
If, as a part-time worker, you retire due to ill health, we base the calculation on the full-time equivalent Pensionable Service you could have built up if you had stayed in service to Normal Pension Date. For more information please see retiring on the grounds of ill health. If, however, your part-time hours are reduced because of incapacity, and you subsequently retire due to ill health, the Trustee and your employer may agree to base your enhanced service on your original (higher) part-time rate. |
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