Pensions

Pensions at the University of Reading

Members of staff have the opportunity to join a pension scheme sponsored by the University. Membership of a pension scheme is an important and valuable part of your benefits package as an employee of the University of Reading. For most people their pension is their second largest asset, second only to owning a property. With State Pension Ages increasing and likely to increase further having your own pension is critical to decisions about your future.

The schemes are funded by contributions made by both members and the University with the University paying the lion's share of the cost. Under current HM Revenue and Customs rules pension scheme members receive tax relief on their contributions to a registered pension scheme and this has the effect of reducing the cost of joining a scheme to members.  

Pension Schemes

There are two main schemes available to University of Reading employees. These are the Universities Superannuation Scheme (USS) which is available to staff on Framework Grades 6-9, Professorial Grades and those who are Sessional Lecturers and the University of Reading Pension Scheme which is open to employees on Framework Grades 1-5. There are also employees who are members of the University of Reading Employees' Pension Fund (UREPF) or of the Teachers' Pension Scheme (TPS) but membership of these schemes is not available to new employees.

• (USS) Universities Superannuation Scheme
• (URPS) University of Reading Pension Scheme
• (UREPF) University of Reading Employees' Pension Fund
• (TPS) Teachers' Pension Scheme 

Independent Financial Advice

Membership of these schemes forms an important and significant part of your benefits package and you are encouraged to join. You should be aware that you are making a financial decision and you may therefore wish to seek independent financial advice.

Members of the Pensions Office cannot provide financial advice but for general enquiries in respect of the University's schemes please see the Pensions Team contact details.

Additional information

The Pensions Advisory Service

The Pensions Advisory Service is a non profit organisation that can help people with problems, complaints or disputes about their pension, http://www.pensionsadvisoryservice.org.uk/.

The Pensions Regulator

The Pensions Regulator are the regulator of work based pensions in the UK and they are working to support confidence in them,  http://www.thepensionsregulator.gov.uk/.

The Financial Services Authority (FSA)

The FSA is an independent, non governmental body that regulates the financial services industry in the UK and aims to promote efficient, orderly and fair financial markets, http://www.fsa.gov.uk/.

Directgov: Pensions and Retirement Planning

Information and practical advice from the UK government on pensions and planning for retirement, http://www.direct.gov.uk/en/Pensionsandretirementplanning/.