New members from 1 October 2017

This page contains guidance for setting up new employees contributions to the OSPS Investment Builder section.

Eligibility

All new employees should join the scheme from the start of their employment. Even if they are on probation they should still join from the first day. Waiting periods are not allowed under the rules.

You do not have to admit employees who work irregular hours. You do not have to readmit employees who have previously opted out.

If you have a policy of not readmitting employees if they opt out you should make this clear to them if they ask to opt out.

New joiner process

From 1 October 2017 new employees will be enrolled into the defined contributions section of OSPS (Investment Buider).

All new joiners from that date should be given the following forms:

You should then complete the DC Joiner template for colleges (42kb) and send to us as soon as possible in advance of any contribution being submitted. Legal & General will then send the new employees a joining letter.

If a new employee does not wish to join they must opt out via Legal & General within one month of receiving their joining letter. You can refund employee and employer contributions through the payroll in these circumstances.

If you operate Salary Exchange you should make new members aware that contributions taken in this way cannot be refunded upon leaving (if applicable).

Contribution tiers

New members can choose their contribution tier by completing the Pensions Choices (APP5) DC form (77kb) If they have come from the University or another college please contact us and check that they should be in the OSPS Investment builder section. Members cannot change their cost plan in the middle of the scheme year.