This section of the site is for those members who are currently contributing to the scheme. It contains details of the benefits of the scheme and how it is administered.
The University of Birmingham Group Retirement Plan (GRP) offers a way for you and the University to provide for your retirement.
The University, in association with our advisers Watson Wyatt Limited, selected Friends Provident, one of the country’s largest pension providers, to administer the GRP.
You will receive a number of valuable benefits by being a member of the scheme as follows:
- Employer contribution - You will have 10% of your salary paid, as an employer contribution, into the GRP
- Flexibility- The University GRP is very flexible so you can choose how much you contribute and where you invest it
- Tax advantages - One of the main advantages of contributing to the GRP is that it is very tax-efficient. Your plan grows virtually tax free over the years.
- 24 hour online access - You can keep track of your pension plan 24 hours a day over the internet. You can check its value, forecast what it may be worth in the future and change your personal details online.
- Low charges - The University has negotiated lower charges for the GRP than are typically available to individuals.
- Death in service benefit - a death in service lump sum of 3 x your salary will be payable to your dependants in the event of your death.