OSPS APEs
Salary Exchange for Pensions Contributions
If you operate a salary exchange for pension contributions scheme similar to the University’s you should ensure that new members are aware of the severe effect joining such a scheme can have on refund calculations. See the leaving OSPS part of the members’ section for more details.
If a salary exchange member leaves the scheme for whatever reason you should send us the salary exchange version of the appropriate leaving form:
Leaving employment (salary exchange colleges only) (LEA1(S)) form
(129kb)
Withdrawal from OSPS (salary exchange colleges only) (OPT3(S)) form
(129kb)
Confirmation of retirement (salary exchange colleges only) (RET2(S)) form
(123kb)
Confirmation of death in service (salary exchange colleges only) (DTH2(S)) form
(117kb)
For the first two forms it is important that you give us the total NICO pay for the tax year and the NICO pay relating to the period when the member was not in salary exchange. This is because it is needed for the refund calculation. However, it is not essential to give this for members who have been in the scheme with you for more than two years as they are not entitled to a refund.