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As an LSE employee, there are 2 main pension schemes available to you:

  • If your role falls within salary bands 1 to 5, you are eligible for SAUL membership.
  • If your role is on salary band 6 or above, you are eligible for USS membership

If you are a salaried member of staff, you will be enrolled from the start date of your employment as one of the contractual terms of your employment.

If you are an hourly paid member of staff or undertaking employment for which you do not hold a contract for a salaried position, you can elect to join the pension scheme by notifying the Pensions Team in writing.

The School has a legal obligation to automatically enrol all eligible employees into a pension scheme if they are not enrolled via the terms of their employment contract or are not a current member at the point the School performs its auto re-enrolment duties.

For further details regarding this process and the eligibility criteria please refer to the Automatic Enrolment page.

If you wish, you can elect not to participate in the pension scheme made available to you, however, the School is not able to arrange contributions to any alternative arrangement. 

Below are various resources to help you plan for your future, and help you better understand how LSE's pension provision works.   

Planning for your retirement

Whether you are at the beginning or coming towards the end of your career, the School has created some useful resources to help you think about and plan for your future:

Retirement Planning Guidelines [PDF]

Retirement Policy [PDF]

Transition to Retirement Request form [DOC]

SAUL (Superannuation Arrangements of the University of London)

SAUL is an occupational pension scheme providing pensions for more than 50 HE organisations and currently has over 46,000 members. 

To be eligible for SAUL membership, your role must fall within salary bands 1 to 5. 

SAUL is a defined benefit (DB) pension scheme, which means the benefit you receive at retirement is calculated using a pre-determined formula.  

About the scheme [PDF]

Additional voluntary contributions & transfers [PDF]

Leaving the scheme or opting out [PDF]

Additional information [PDF]

SAUL GDPR Update for Members [PDF]

USS (Universities Superannuation Scheme)

USS is a UK wide pension scheme offered to LSE staff members on or above Salary Band 6. It is a large scheme with approximately 400 institutions as members.  

USS is a ‘hybrid’ pension scheme, it may provide a combination of ‘Defined Benefit’ and ‘Defined Contribution’ pension benefits. 

About the scheme [PDF]

Additional voluntary contributions [PDF]

Transfers [PDF]

Leaving the scheme or opting out [PDF]

Additional information [PDF]


Automatic Enrolment and Salary Sacrifice

In addition to the scheme-specific factsheets, we've also produced a number of other documents to help guide you through some of the other important issues affecting you and your pension:

Automatic Enrolment Explained [PDF]

Salary sacrifice explained [PDF]

Pensions Tax and Financial Advice

HM Revenue & Customs (HMRC) have established allowances within which pension savings achieve tax favourable treatment in the UK. For more details, please explore the following factsheets:

Pensions tax explained [PDF]

Pensions Tax: The Lifetime Allowance [PDF]

Pensions Tax: The Annual Allowance [PDF]

Managing your Pensions Tax Liability [PDF]


HMRC impose a limit upon the maximum amount of tax-free cash you are able to receive upon retirement.

This is broadly calculated as 25% of the value of your benefits for Lifetime Allowance purposes.

From 6 April 2023, whilst the LTA has been abolished for the purposes of determining any limit above which you become subject to an LTA tax charge, the allowance currently remains in place for determining the amount of tax free cash permitted to be paid at retirement.

The latest standard LTA was set at £1,073,100 meaning that the maximum amount of tax-free cash which is permitted to be paid (2023/24) equates to 25% of this amount (£268,275).

Individuals with an existing Lifetime Allowance protection certificate filed with HMRC may be permitted a higher level of tax-free cash

The School is unable to provide you with any financial advice as legislation requires that this is provided by a registered financial adviser.

The School have therefore worked in conjunction with a number of other London based higher education institutions to create a preferred suppliers list of four independent financial advisory firms, whom the London Pensions Consortium believe have demonstrated a strong understanding of the higher education pension arrangements and the issues likely to be faced by their employees.

All four selected providers are qualified to provide independent financial advice regarding both your membership of the School’s pension arrangements and more general advice regarding your wider financial planning, should this be of use to you.

Both Insight and Chadwicks will provide you with an initial discussion free of charge in order to understand your requirements.  Any fees for further advice will then be agreed with you in advance before any subsequent work is performed.  Both Clarity and Mercers will agree an initial consultation fee with you prior to arranging a meeting, with the fee being dependent upon your requirements from the initial consultation.

Please see below for contact details and a brief overview of each of the appointed advisers:

Chadwicks [PDF]

Clarity [PDF]

Insight [PDF]

Mercers [PDF]


FAQ and Useful links

We've collated some of the most common pension queries for you into a separate webpage;

Pensions FAQ

If you still are unsure - please feel free to contact a member of the pensions team

SAUL pension scheme

Full scheme information, online facility to update your address details, forms for updating your nominated beneficiaries, opting out of scheme membership etc…. and calculators to assist with your retirement planning. 

USS pension scheme

Full scheme information including forms for updating your nominated beneficiaries, opting out of scheme membership etc…. various factsheets, podcasts and modelling tools to assist with your retirement planning. 


To view and manage details of your USS Investment Builder fund, complete a USS online enquiry form and view details of investment funds and performance. 

Pension Wise   

Free and impartial government guidance about your pension options. 


Find an Independent Financial Adviser near you. 

The Pensions Advisory Service          

Independent and impartial information and guidance about pensions, free of charge, to members of the public. 

Department for Work and Pensions (DWP)            

The Department for Work and Pensions (DWP) is responsible for welfare and pensions policy. 

Payroll Team

For enquiries regarding your pay details please contact the payroll team.


It is important to note that we are not legally allowed to give you financial advice specific to your personal circumstances.  The useful links section contains details of where you may be able to obtain such advice if you require it. All rates and information provided can be subject to review and change.

The pensions team are here to assist you with any queries you may have relating to the pension provision offered by the School.