OSPS Part-time Employees

Can I join OSPS if I am working part-time?

Yes. The joining criteria are the same for a part-time employee as for a full-time employee.

How much do I pay to OSPS if I am working part-time?

The contribution rate is the same as that for full time employees, but calculated against your actual part time salary.

How does working part-time affect my benefits?

As a member of OSPS working part-time, the service you accrue will be at the rate of your part-time employment. For example, if you work at 50% of full time for two years, the Pensionable Service you will accrue will be one year.

What happens if I change my hours?

If you increase or decrease your hours during your membership of OSPS, your Pensionable Service rate of accrual will also change. Any change will not affect the Pensionable Service accrued up to the date of change.

For example, if you have worked full time for most of your membership and then reduce your hours of working, the Pensionable Service accrued at the full-time rate will remain, and the part-time Pensionable Service will be added to it.

Are my benefits calculated differently to a full-time member?

The basis of the calculation of OSPS benefits is exactly the same for full-time and part-time members.

The annual pension is calculated as:

1/80th x Final Pensionable Salary x Pensionable Service

You will also receive a cash lump sum calculated as follows:

3/80th x Final Pensionable Salary x Pensionable Service

Pensionable Service has been explained; what about Final Pensionable Salary?

Final Pensionable Salary is the full-time rate of pay applicable to your post, prior to leaving OSPS.

Can you show an example of how the benefits will be calculated for a part-time member?

Yes. Mrs P. is leaving the University after 10 years of employment and membership of OSPS. She has worked 50% of full time for the whole period, and has been on a part-time salary of £7,000 per annum for the last year of her membership.

Her benefits will be calculated as follows:

Final Pensionable Salary: £7,000/50% = £14,000

Pensionable Service: 10 years x 50% = 5 years

Annual Pension:

1/80th x £14,000 x 5 years = £875

Tax-free lump sum:

3/80th x £14,000 x 5 years = £2,625

Note: Persons who were members of the scheme before 6 April 1995 should read the section on Special Provisions.