UBPAS is a final salary scheme and is closed. It provides a comprehensive range of benefits designed to give some financial peace of mind for you and your family. These benefits are subsidized by the University, which pays a substantial contribution towards your pension.
UBPAS is designed to suit all members - whether you work part time or full time, whether you are male or female, single or married, it provides important benefits that will cover you in many difficult circumstances. It is especially relevant if you have a family or any dependants where some sort of continuing financial support is vital.
The benefits you receive from UBPAS are in addition to any benefits you may be entitled to receive from the State Social Security system (including the flat rate retirement pension). However, members of UBPAS are contracted out of the Second State Pension Scheme (S2P). You and the University therefore pay a lower contracted out rates of National Insurance contributions.