If you were part of a pension scheme at the university but have opted out within the last three years, you will be automatically re-enrolled from Sunday 1 May 2022.

Every three years, the university needs to exercise its statutory duty to re-enrol all employees who have opted out of pensions saving back into a pension scheme.

The university will be carrying out this exercise in May 2022.

Employees who have opted out of their pension scheme within the last three years will be automatically re-enrolled into the appropriate scheme with effect from Sunday 1 May 2022, if they meet the criteria for automatic enrolment (i.e. are between the age of 22 and state pension age, and earning £833.33 or above per month).

The pension schemes undergoing automatic re-enrolment are:

• Staff between levels 1-3 will be automatically enrolled in the CRSP scheme*
• All other staff will be automatically enrolled into the USS scheme*

*Staff who are eligible for, but had opted out of other pension schemes (e.g. NHS Pension Scheme or CPAS) will be re-enrolled into either CRSP or USS. If you are re-enrolled into CRSP or USS but believe you are eligible to join the NHS Pension Scheme and wish to do so, then please contact pensions@nottingham.ac.uk.

Everyone affected will receive a letter in May to inform them of their enrolment into the appropriate pension scheme. This will be from either the university (USS) or Legal and General (CRSP). This will also contain information on how to opt out of pensions savings, if you would like to do so.

If you had previously opted out of the pension scheme for Lifetime Allowance related reasons and being re-enrolled is a problem for you, please contact pensions@nottingham.ac.uk before Friday 20 May 2022.

Benefits of staying in a pension scheme

In addition to preparing for a different stage of life there are other benefits of paying into the university pension, including:

• Tax relief on personal contributions (subject to limitations) – for example, a £100 pension contribution for a basic rate taxpayer will only cost £80
• You benefit from contributions from the university when you save (that’s like free money for your retirement) if you are in CRSP or the Investment Builder part of USS – as these are ‘defined contribution’ schemes
• The money can be passed on to your loved ones, depending on the pension scheme rules, on your death
• You have lots of flexibility in how you access the money at retirement (for most people, any time from age 57)

Furthermore, as an active member of CRSP, if you die before retiring there is a death benefit of 5.5 times your salary in addition to the money in the pension scheme.

Visit our pension pages to find more information including details of how to update your wishes in respect of death benefits payable to your loved ones. There are frequently asked questions and links to each scheme’s website.

You can also visit the government’s website to get a forecast of your state pension.

If you are thinking about retirement planning and would like some advice or guidance, visit the Retirement Living Standards webpages.