Bangor Benefits for Pensions
The University has introduced an initiative that will allow members of the Universities Superannuation Scheme (USS) and the Bangor University Pension & Assurance Scheme (UPAS) to increase their take home pay whilst continuing to accrue benefits in the pension scheme.
In this arrangement, introduced on the 1st of June 2009, members of the pension scheme elect to forego a part of their salary equivalent to their own contributions to the relevant pension scheme. In exchange, the University pays this amount to the pension scheme in addition to the normal employer contributions to the Scheme.
As a result of giving up a part of their salary, employees will pay lower National Insurance contributions and their take home pay will increase. These pages contain further information regarding the scheme, for both USS and UPAS members.