Staff costs in the financial statements include staff pay, national insurance costs, pension contributions, pension servicing costs and costs attributable to a deficit recovery plan for USS, SAUL and the Oxford University Staff pension scheme.
In the indexation template, pension contributions for all pension schemes should be excluded from the pay costs line and included under the pension contributions line. Each pension scheme will have different levels of contribution, so a side calculation will likely be necessary to collate the overall data for the institution for entry into the template.
The non-contribution related pension costs for USS, SAUL and the Oxford University Staff Pension schemes are also excluded from the staff costs line in the template, in line with the pension costs being deducted in TRAC (in Table A1). All other pension related costs are included in the pay costs line.