SAUL CARE

SAUL Care

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.

What you will get

Being a SAUL Care member means you'll get:

• a pension and tax-free lump sum when you retire
• a pension and tax-free lump sum if you're too ill to work.

Your beneficiaries will get:

• tax-free lump sums if you die
• a pension if you die
• child allowances if you die, payable until your child's 18th birthday or their 23rd birthday if they're still in full-time education.

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.

Contributions and how much it costs

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%)

How your SAUL Care builds up

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.