Your pension isn't just a way of saving for when you retire. It also provides security for you if you're too ill to work and for your beneficiaries if you die.
Find out more about what happens if you're:
Your spouse will get a pension from SAUL when you die.
Spouse means your opposite or same sex spouse or your civil partner.
If you're not married, the Trustee can pay a pension to another adult if they share bills and other living expenses with you.
If you die while paying in to SAUL, your spouse will get two-thirds of the pension that would have been paid to you.
To work out your spouse's pension, we use the highest salary you earned in the three years before your death. We also assume that you would have paid in to SAUL until the last day of the month before your 65th birthday.
If you were a member of the Final Salary Plan before 1 April 2016, we'll include the Final Salary pension you built up when we work out your spouse's pension.
If you're not paying in to SAUL when you die, your spouse will get two-thirds of the pension you built up before you stopped paying in increased between the day you left SAUL and the day you die to account for inflation.
If your spouse is more than 15 years younger than you, the Trustee can reduce your spouse's pension.
Your spouse will receive a pension for the rest of their life, even if they re-marry.
Spouse's pensions increase in the same way as pensions paid to retired SAUL members.
You can find details of the spouse's pension if you die after you retire in the Getting your pension section.
having a baby
While you're on paid maternity, paternity or adoption leave you'll still make payments to SAUL.
The payments you make will be based on the actual pay you receive but the pension you build up in SAUL will be based on your full pay.
During the first 26 weeks of maternity or adoption leave or the first two weeks of paternity leave, you'll build up pension in SAUL even if you're not being paid. Your employer will continue to pay 16% of your salary in to SAUL.
If you're on unpaid leave, you won't make any payments to SAUL. Apart from during the first 26 weeks of maternity or adoption leave or the first two weeks of paternity leave, you won't build up any pension.
You'll stay a SAUL member and your beneficiaries will get a lump sum of four times your salary if you die while on maternity, paternity or adoption leave. Your spouse will get a pension too.
You can share up to 50 weeks of parental leave with your baby's mother or father. If you're the baby's mother and you live with a partner who's not the baby's father, you can share parental leave with your partner. For more information, please contact your employer.
Child allowances are payable to children until their 18th birthday or until their 23rd birthday if they're still in full-time education.
If your child has a disability, their allowance may be paid after their 23rd birthday.
The amount of allowance paid to your children will depend on whether SAUL is also paying a pension to your spouse or another adult. It will also depend on how many children get an allowane from SAUL.
If SAUL pays a pension to your spouse (or another adult):
- one child will get an allowance of half of the spouse's pension
- two or more children will share an allowance of the same value as the spouse's pension
If you're not married and SAUL doesn't pay a pension to any other adult:
- one child will get an allowance of two-thirds of the spouse's pension
- two or more children will share an allowance of one and one-third of the spouse's pension
Child allowances increase each year in the same way as pensions paid to retired SAUL members and spouses.
You may need to provide details of your SAUL pension to your solicitor if you're getting divorced. They might ask for the Cash Equivalent Transfer Value (CETV) of your pension.
Part of your pension could be given to your ex-spouse in the divorce settlement.
You might be awarded some of your ex-spouse's pension. If you're paying in to SAUL when you get divorced, you might be able to transfer this in to SAUL.
Please contact our benefits team who will send you the value of your pension if you need this for divorce purposes.
too ill to work
SAUL membership provides security for you and your family if you're too ill to work.
Ill health retirement
If you're still paying in to SAUL when you become ill and your employer and the Trustee agree, you could get your pension early.
There's no guarantee that your application for ill health retirement will be successful. The Trustee and your employer must be satisfied that you're too ill to work and it's likely to be permanent.
When we work out your pension, we'll assume you would've paid in to SAUL until the last day of the month before your 65th birthday.
You'll also get a tax-free lump sum of three times your pension.
If you no longer pay in to SAUL when you get ill, you can ask the Trustee to get your pension early. You'll get the pension and tax-free lump sum you built up in SAUL inceased between the day you stopped paying in and the day you retire to account for inflation.
We'll ask for more information about your health from your doctor, and the Trustee may ask you to attend medical examinations after you retire.
The Trustee could stop your pension if your health improves or you go back to work. You can find out more about ill health retirement in our leaflet.
Serious ill health
If you're seriously ill, with a life expectancy of less than one year, you may be able to get a tax-free lump sum from SAUL instead of getting your money paid as a pension.
The Trustee will decide whether to pay you a lump sum and they'll ask for information about your health from your doctor.
Temporary absence from work due to ill health
If you're unable to work while you're being paid by a SAUL employer, you'll still need to pay money in to SAUL.
The money you pay in will be based on your normal salary, even if you're receiving reduced pay.
Your employer may agree to pay some or all of the money you'd usually pay in to SAUL on your behalf while you're ill.
If you're on unpaid sick leave, you won't pay any money in to SAUL and you won't build up any pension for the time you're unpaid. You can't start making payments to build up Additional Pension while you're on sick leave.