Many QMUL staff will be shocked to receive a paycut in their April payslip.
Starting from 1st April, the Government has abolished the 1.4% NI rebate given to those who’d contracting out of the State Pension in favour of a work place pension. So for everyone with a USS or SAUL pension, that amounts to roughly an additional £23 deductions to your pay. More details are here and here.
And from 1st April, USS have closed their Final Salary and old CRB pension schemes. All staff with a USS pension are now forced into the ‘USS Retirement Income Builder’ scheme – with an 8% increase in employee contributions. More details are here.
In real terms, university pay has fallen by 14.5% since 2009. For QMUL and other London universties, that decrease is nearer to 17% . In response, the university employers (UCEA) are currently…
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