1-19 Torrington Place
9th and 10th Floors
London WC1E 7HB
Tel: +44 020 7679 1843
- Pension Schemes
- Season Ticket & Bicycle Loans
- Cycle Scheme
- Childcare Vouchers Scheme
- Relocation Expenses and Relocation Supplements
- House Loans for Certain Groups of Staff
- An Accommodation Service to Assist Staff Moving to London
- Give as You Earn Scheme
After your basic pay, pensions are perhaps the most important part of UCL's pay and benefits package. The pension schemes at UCL are amongst the best in the country. There are two main pension schemes (SAUL and USS), depending on your grade, and subject to the Scheme’s rules and eligibility conditions, with employee contribution rates of around 6%. UCL also contributes at least an additional 13% into your pension. You don't pay any tax on the pension contributions you make.
Further information about USS and the benefits it provides can be found at www.uss.co.uk.
Further information about SAUL and the benefits it provides can be found at www.saul.org.uk
The pension schemes that UCL offers also provide scope for Additional Voluntary Contributions (AVC's) which enables you to top up your benefits.
UCL feels that it is important to support staff not only while that are at work but also in their travel arrangements. With this in mind UCL offers all staff the opportunity to take advantage of interest-free season ticket and/or bicycle loans.
The UCL Cycle Scheme offers an attractive employee benefit by encouraging staff to maintain a healthy and active lifestyle whilst making substantial savings on the cost of a bike and safety equipment. You can select any make/model bike up to a value of £1000 through independent bike shops taking part in this scheme thereby providing business to local communities. The saving comes about because you do not pay tax or NI on the amount paid out on the bike and is therefore a salary exchange scheme.
If either you or your partner are working parents with children, there are ways you can save money through the Childcare Voucher Scheme. The scheme enables you to purchase child care vouchers by means of salary exchange from your UCL salary. Vouchers are Tax and National Insurance exempt for the first £55 per week of your childcare costs. This could save you hundreds of pounds a year (guidelines indicate that the saving is between £900 and £1,100), depending on your salary and childcare costs.
UCL has developed a generous Relocation Scheme for newly-appointed academic and senior administrative staff (Grades 9 and 10) who relocate their home to take up an appointment with UCL. This can include expenses of up to a maximum of 10% of starting salary (20% of salary if relocating from outside Europe), supplements of £9000, house loans and help in finding accommodation through UCL's Accommodation Service.
UCL offers generous house loans which are available towards the purchase of a property to be used as the individual's main residence. The maximum loan available is equivalent to one year's salary and interest is charged at half a per cent above the National Westminster Base Rate.
UCL has an Accommodation Information Service for UCL staff and academic visitors who require accommodation and need short and long term assistance.
Give As You Earn is the most tax-effective way for individuals to give regularly to charity.
UCL offers this facility to its staff and is contracted with Charities Aid Foundation (CAF).