Important information about the Scottish Widows Pension Scheme:

Available to contracted staff grades 1-6. Aston is committed to providing this valuable benefit and we wish to help make it simple and easy for you to understand and benefit from the scheme. With this in mind, we set out this information below: 

When did the scheme begin?

The new scheme began with effect from 1st April 2018. 

How do I find out more about the Scottish Widows pension scheme?

You will find the below presentation helpful.

 

Click here for a transcript of the presentation.

 
You will receive a joining pack in the post to your home address with your new pension details.

Salary Sacrifice - An Important Note

Please note that the University is operating Scottish Widows as a "salary sacrifice" arrangement, the implications of which are explained in the “Flexible Benefits FAQs” and in the The University’s “Pension Salary Conversion” Arrangement.

You can remain a member of the pension scheme and opt out of the salary conversion, should you wish to do so, by completing and returning the opt out form which can be obtained from the Pensions and Benefits team.

The opt out form must be returned within 3 months of your date of joining the pension scheme.  This is not a form to opt out of the pension scheme.

If you require a paper copy of the flexible benefits information or the opt-out form, please contact:

Peter Brookes - Pensions & Benefits Officer
Telephone: 0121 204 4582

What contribution rate will I pay?

All new members will be entered into the 6% contribution range.

The new scheme offers three levels of contribution as outlined in the table below. 

Employee ContributionsEmployer Contribution
4%8%
6%12%
8%16%

On joining, all contributions will be invested in the scheme default fund, which is the ‘Balanced – Targeting Flexible Access’ fund. However, you have the option to change funds should you choose from the Scottish Widows member portal, details of which will be in your membership pack. There are a wide range of funds to choose from, including various tailored ‘Lifestyle’ options that will manage the funds for you. A full list of funds available can be found here.

How can I change my contribution rate?
Members are welcome to vary their contribution rates throughout the year. You must let payroll know if you wish to vary your contribution before the cut-off each month, ready for the next payroll period.

If you would like to start contributions into Scottish Widows at a different rate from 6% please complete our online form to notify us.

How do I find out about my current AUPS pension scheme? 
If you have any queries regarding your current AUPS pension scheme please send them by email.

I was not a member of AUPS, can I still join the Scottish Widows Pension Scheme?
The scheme is available to all employees on grade 1 to 6. You will need to complete an ‘opt-in’ form available from the road-show events or download one here.