PASNAS is a final salary pension and life assurance scheme provided and administered by the University of Southampton for its employees. The scheme closed to new members on 1/1/2019.
The Scheme is administered by Trustees in accordance with the Trust Deed and Rules.
There must be seven or more Trustees, including:
*The University is responsible for appointing and removing University Trustees and the Independent Trustee.
PASNAS closed to new members from 1/1/2019.
Members of the scheme at 31/12/2018 are eligible to continue their membership if:
The current contribution rates are as follows:
Employee contributions: 7.2%
Employer contributions: 18.95%
Total contributions: 26.15%
You can opt out of the scheme at any stage of your membership. However, to comply with pension auto enrolment legislation you will be enrolled back into a pension scheme at each 3rd year anniversary of the University of Southampton’s staging date. You will not be enrolled back into PASNAS.
Please contact pensions@soton.ac.uk if you would like to opt out of the scheme
No. The scheme closed to new members on 1/1/2019
If you decide to opt out of PASNAS you will not accrue a pension for retirement or be covered by life assurance if you were to die while employed by the University.
Remember:
It is possible for PASNAS members to transfer benefits from a previous pension arrangement into the scheme.
If you would like the Pensions Office to investigate a transfer, please complete and return the PASNAS Transfer of Benefits form.