Skip to main content
Human Resources

SAUL Start

SAUL Start is available for staff on grades 1-3 who joined from 1 April 2023. SAUL Start members build up a pension pot which you take as income or a cash lump sum on retirement. SAUL Start is a Defined Contribution pension scheme with employee and employer contributions invested to help it grow. The SAUL Trustee has chosen a default investment option but you can choose a different fund from an available range.

Members join the scheme for three years and then transfer to SAUL Care where you will build up a pension based on your salary.

More information

The SAUL Start pension scheme is administered by Legal and General. See their website for more information Legal & General - SAUL.

The scheme and what you will get

Being a SAUL Start member means you'll get:

  • a pension and a tax-free lump sum when you retire
  • your pension pot as a tax-free lump sum if you're too ill to work (certain conditions apply)
  • a flexible pension - you can take your pension pot with you if you change employment
  • Your beneficiaries will get a tax-free lump sum of eight times your salary plus the value of your pension pot if you die

Contributions and how much it costs

You pay 6% of your salary into SAUL Start.

The money you pay in is taken from your annual salary plus any permanent allowances and overtime. Bonuses and commissions are not included.

QMUL pays towards your pension too. We will pay contributions of 15% of your salary plus an extra 1% of your salary to help cover the costs of running the plan and of paying death-in-service benefits.

Investing your pension savings

When you join SAUL Start, your savings will be invested in the default investment option.

If you would like to make your own investment decisions, you can find more information about the choices available to you on Legal & General’s website.

Opting out

If you do not wish to become a member of SAUL and build up an income to use in retirement, please download an opt-out form (SAUL Start Opt out form).

If you become a member of SAUL but then decide to opt-out, you are only able to receive a refund of your contributions within the first 30 days of joining the scheme. You will receive a welcome communication directly from Legal & General with the last date by which you can opt-out to receive a refund, you will need to contact Legal & General directly to opt out: Legal & General - This isn't for me.

 

Back to top