How will PensionPlus be shown on my payslip?
Your payslip will look slightly different. There will be a new pay element to show that you are participating in PensionPlus. This payslip example highlights the pre and post PensionPlus position of an employee earning £38,951 per annum and contributing £2,473 (being 6.35% of pensionable salary) per annum into the USS. Under PensionPlus the employee’s Reference salary remains £38,951 per annum although Actual Salary becomes £36,478 per annum. In this example, the employee’s net take-home pay has increased by £232.44 per annum from £27,363.72 to £27,596.16 per annum. Total contributions to USS have remained the same.
