Pensions Auto-enrolment
Legislation means that employers are required to automatically enrol their employees into a pension scheme. This started in October 2012 for the very largest employees. Bangor University have been compliant from 1 May 2013 (this is known as the staging date) and has made preparations to ensure it meets all the duties required by the legislation.
What does this mean for Bangor University employees?
If you are already an active member of a pension scheme, this will have little effect.
If you are not currently a member of a scheme then you will be affected by auto-enrolment.
If you are a member of the support staff, you will be auto-enrolled into the National Employment Savings Trust (NEST), after a 3 month postponement period, if you meet the criteria. All members of the support staff between the ages of 18 and 65 are eligible at the start of their employment to join Bangor University Pension & Assurance Scheme. Membership after this time is at the discretion of the Trustees of the scheme, but if you are interested in joining or re-joining the Bangor University Pension & Assurance Scheme, please contact the Secretary to the Trustees, Robin Glyn, Finance.
The University has a statutory duty to enrol eligible jobholders (EJ's) into a pension scheme if they are not already members of a scheme. An EJ is any member of staff who:
- is aged between 22 and state pension age, and
- is earning more than £10,000 per annum (£833 a month).
Staff will be auto-enrolled into the National Employment Savings Trust (NEST) as described in the flowchart below:
If you are a member of the academic or professional staff, you will be auto-enrolled into USS if you meet the criteria (unless you are already in receipt of a pension from USS – in this case you will be auto-enrolled into National Employment Savings Trust (NEST)).
The University has a statutory duty to enrol eligible jobholders (EJ's) into a pension scheme if they are not already members of a scheme. An EJ is any member of staff who:
- is aged between 22 and state pension age, and
- is earning more than £10,000 per annum (£833 a month).
Staff will be auto-enrolled into the University Superannuation Scheme (USS) as described in the flowchart below:
(Please note: if you are in receipt of a USS pension, you cannot re-join USS but will be auto-enrolled into NEST)
More detailed information can be found in the Frequently Asked Questions section of this website. You will also see links to the pension scheme websites.
Where can I find out more?
For staff wishing to know more about the Pensions Act 2008 or auto-enrolment more generally there is plenty of information on the Department for Work and Pensions website, the Pension Regulator website and the NEST website.