SAUL Trustee Company is Trustee and administrator of the Superannuation Arrangements of the University of London ("SAUL"). The Scheme started in 1976 and was established to provide retirement benefits for non-academic employees of the University, although all staff are eligible to join. It covers 49 colleges and institutions that have links with higher education in the south-east of England, including most of the Colleges of the University of London, Imperial College, the Royal College of Art and the Universities of Kent and Essex.
SAUL is a multi-employer defined benefit occupational pension scheme set up under trust. Changes to the benefit structure were introduced from 1 April 2016 that mean that benefits for all active members are now based on each member’s revalued average earnings while a member ("CARE"). In addition, benefits built up in the Final Salary section to 31 March 2016 are protected. At the same time that benefits changed, SAUL’s employers agreed to increase their ongoing contributions to 16% while the member rate remained at 6%. Contributions are pooled and invested to provide a fund out of which benefits are paid. SAUL had over 58,000 members and assets of £3.6 billion as at 31 March 2019.
SAUL's vision - “to have a sustainable and affordable, well-managed Scheme that is valued by members and employers alike”.