Information on savings

These figures are for demonstration purposes only and do not necessarily reflect the current salaries for the staff grades shown.

Example 1

For an employee on Support Staff Grade 5, earning £26,537 gross per year, using the University nursery full time. The value of the nursery place is £9,759 per year:

  Current salary

 New salary (using SS for payment

of nursery fees)

Salary
 £26,537 (gross)  £16,778

Pension 6.6% (OSPS

standard-cost plan)

 £1,751  £1,751
 Tax*  £2,757 (20% of £13,786)  £805 (20% of £4,027)
 NI  £2,007  £836
 Net  £20,022  £13,386
 Less childcare  £9,759  
 TOTAL salary rec'd  £10,263  £13,386

Saving to employee = £3,123 (per year)

* Personal tax allowance: £11,000

 

Example 2

For an employee on Academic or Academic-Related Grade 8, earning £42,488 gross per year, using the University nursery full time. The value of the nursery place is £9,759 per year:

  Current salary

New salary (using SS for payment

of nursery fees)

Salary
 £42,488  £32,729

USS Pension 8% 

 £3,399  £3,399
 Tax  £5,618 (20% of £28,089)  £3,666 (20% of £18,330)
 NI  £3,723  £2,552
 Net £29,748  £23,112
 Less childcare  £9,759  
TOTAL salary rec'd £19,989 £23,112

Saving to employee = £3,123 (per year)

* Personal tax allowance: £11,000