SAUL Care is usually available for staff on grades 1-3 who joined before 1 April 2023. SAUL Care members build up their pension based on their Career Average Revalued Earnings (CARE). This means members get a pension based on the CARE Salary they earn in each CARE Year.
A CARE Salary is an annual salary including any permanent allowances (such as responsibility allowance) and overtime. Bonuses and commissions aren't included.
Being a SAUL Care member means you'll get:
Your beneficiaries will get:
Your SAUL Care pension increases each year.
Your SAUL pension is flexible, this means you can choose the pension and lump sum that suits you when you retire.
You pay 6% of your salary into SAUL Care.
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. The University pays 21% of your salary into your pension each month (from 1 September 2024, this will reduce to 19%)
SAUL members who joined up to 31 March 2023 build up pension based on their Career Average Revalued Earnings (CARE). This means members get a pension based on the CARE Salary they earn every year.
The year runs from 1 April to 31 March and members get a pension of 1/75th of their salary for each complete (or part) year they pay into SAUL).
Each year this pension increases and in this way you build up an income to be used when you reach retirement age.