Pensions
Find out more about the pension options available to you, including a presentation from Fairstone, Independent Financial Advisors.
When you join NTU, you will be automatically enrolled into an occupational pension scheme.
- Academic colleagues in a teaching role will be automatically enrolled into the Teachers' Pension Scheme (TPS). See how much will be deducted based on your salary.
- Professional services, research, and support staff will be automatically enrolled into the Local Government Pension Scheme (LGPS). See how much will be deducted based on your salary.
- If for any reason your statutory pension scheme is not right you can opt out. You may want to consider joining the Retirement Savings Plan (RSP)
- All colleagues can join the Retirement Savings Plan with employee contributions starting from 0%. Visit the Legal & General microsite to explore more about the Retirement Savings Plan and additional benefits (life assurance, income protection). You can also find out more on our pensions page.
- Some colleagues may be able to join the Universities Superannuation Scheme (USS). The USS is a hybrid scheme combining elements of Defined Contribution and Defined Benefit schemes. You contribute 6.1% and the University contributes 14.5%. Find out more about the USS.
The Retirement Savings Plan – the Plan – offers colleagues an alternative way to save for their retirement.
- There are other valuable benefits for members of the Plan such as Income Protection and Life Assurance (Death in service)
- The Plan offers colleagues flexibility and choice of how much they contribute to the Plan. NTU will also pay contributions to your Plan depending on how much you contribute, up to a maximum of 14% from August 2025.
- You can even contribute 0% and NTU will contribute 8% into your plan.
- You can choose how to invest your pension fund if you wish to.
- There are a number of options at retirement, as well as benefits for dependants and beneficiaries.
- The pension fund is ‘portable’ so you can take it with you if you leave NTU.
Please note: Colleagues can only be a member of one workplace pension scheme — if you wish to join the RSP you'll need to opt out of your current occupational pension scheme, e.g. the Local Government Pension Scheme (LGPS) or the Teachers’ Pension Scheme (TPS).
The Universities Superannuation Scheme (USS) is an alternative pension scheme that is offered by NTU and some colleagues may be able to join depending on their role.
Please note: Colleagues can only be a member of one workplace pension scheme — if you wish to join the RSP you'll need to opt out of your current occupational pension scheme, e.g. the Local Government Pension Scheme (LGPS) or the Teachers’ Pension Scheme (TPS).
| Info | RSP | LGPS | TPS | USS |
| Type | Defined Contribution | Defined benefit CARE | Defined benefit CARE | Defined Benefit CARE – Defined Contribution for earnings above the salary threshold* |
| Eligibility | All colleagues | If you work in a professional services, support, or research role | If you are in a teaching role | Some colleagues may be able to join USS depending on your role. |
| Your contribution | 0-6% (2% Default)** | 5.5-12.5% | 7.4-12% | 6.1% |
| NTU contribution | 8-14% (10% Default)** | 17.2% | 28.68% | 14.5% |
| Employee contribution type | Flexible, through salary sacrifice | Fixed dependent on salary | Fixed dependent on salary | Fixed |
| Life Assurance*** | 5 x salary | 3 x salary | 3 x salary | 3 x salary |
| Find out more | https://shorturl.at/YrWQK / | www.lgpsmember.org | www.teacherspensions.co.uk | www.uss.co.uk |
* The salary threshold is £71,484 for 2025-26.
** Contributions will increase to 6% (employee) and 14% (NTU) from August 2025.
*** How each pension calculates death in service/life assurance may relate to salary or pensionable pay. For the exact calculation see each pensions website.
For a definition of pension scheme type, visit our pension acronyms explained page