Salary Sacrifice Schemes

Goldsmiths introduced a salary sacrifice scheme for childcare vouchers in 2009.  We are now looking to introduce salary sacrifice schemes for pension contributions and also for bicycles.  We are planning to ensure that these will be in place by December 2010.

Pensions

We want to introduce the salary sacrifice scheme for pensions to make contributions into the Universities Superannuation Scheme (USS) more cost effective. This will allow most members of USS to save money, which should increase the take home pay they receive. Find out more about PensionPlus.

Salary sacrifice is available to USS members only as London Pension Fund Authority (LPFA) do not currently allow contributions to be made via a salary sacrifice scheme. 

A number of universities have already introduced salary sacrifice schemes for pensions and both the staff and the universities have made savings.

Bicycles

We will also be introducing a cycle scheme.  In this case, the member of staff would agree to give up part of their salary for an agreed period (in the case of the Cycle to Work scheme this is usually 12 months) in exchange for the non-cash benefit of a bicycle and safety equipment. 

 

Project Progress

We’ll post more details on this webpage as the project progresses, including a timeline, information and frequently asked questions, a calculator which will show you what effect the scheme will have on your take home pay and planned communication events with staff.

If you have any questions or would like to be part of the project team implementing these schemes, please contact finance@gold.ac.uk