Welcome to Pensions
This section provides information about the pension schemes available for Swansea University employees.
The two main schemes are the:
*Universities Superannuation Scheme (USS) for staff contracted at grade 7 or above.
National Employment Savings Trust (NEST) for staff contracted at grades 1 - 6.
*Please note that USS is currently undergoing its 2020 scheme valuation.
Further information about the USS valuation for Swansea University staff can be accessed here.
Swansea University Pension Scheme (SUPS) was closed to new entrants from 1 January 2012, but remains open for current members.
The Trustees of the Swansea University Pension Scheme (“the Scheme”) have a duty under the Occupational Pension Schemes (Investment and Disclosure) Regulations (“the Regulations”) to produce a Statement of Investment Principles (SIP). The SIP is intended to affirm the investment principles that govern decisions about the Scheme’s investments. In preparing their SIP, the Trustees have consulted the Principal Employer, Swansea University.
The Trustees will review the SIP and their investment policy at least every three years in conjunction with each triennial valuation or immediately following any significant changes in investment policy. The Trustees will also review this SIP in response to any material changes to any aspect of the Scheme, its liabilities, finances and attitude to risk of either the Trustees or the University which they judge to have a bearing on the stated investment policy.
A copy of the SIP can be accessed here
Further information about all the schemes for existing staff can be accessed here.
Important information for Swansea University Pension Scheme Pensioners
Pensions paid by Swansea University Pension Scheme are continuing as normal during the current situation, although the pensions team is working from home.
If you have any queries or wish to report a change in circumstances, please email firstname.lastname@example.org and we will respond as quickly as possible.