Your salary must be paid into a UK bank account or building society account so it will be important for you to open a bank account as soon as you arrive in the UK.
There are many different types of account available in the UK and it is possible to have more than one account with more than one bank or building society. Each bank/building society can talk you through the range of bank accounts available to suit your personal circumstances.
There are three banks on the University campus located in the Student Union building. These are Barclays Bank, Santander and NatWest (the National Westminster bank).
Many other banks can be found in Loughborough town centre, however, including Halifax, HSBC and Lloyds TSB.
Once you have decided which bank you wish to open an account with, you will need to visit the bank with the following:
- Official identification. You will need to show your passport or national identity card.
- Proof that you are employed at the University.
- Proof of your UK address.
- Proof of your permanent residence in your home country.
- A sum of money to deposit
You can obtain a letter from Human Resources confirming your employment, please email Human Resources requesting a bank letter with both your overseas and UK address. Once the letter is ready you will be emailed to collect it from the HR offices in the Rutland Building.
If you can, take all of these with you when you go to open an account, as this will make the process quicker and easier.
While in the UK, you will be required to pay income tax on your earnings once they are in excess of the tax free allowance. Find out more about your tax free allowance.
As an employee of Loughborough University, your income tax will be automatically deducted from your pay using the Pay As You Earn (PAYE) system.
You will also be required to pay National Insurance. If you do not have a National Insurance Number you will need to obtain one and let Human Resources know your number as soon as possible. To apply for a National Insurance number you should telephone Jobcentre Plus on 0345 600 0643.
You may need to attend an interview to obtain a National Insurance number. Waiting times for appointments may be several weeks. Your personal number will be issued to you a few weeks after the interview.
All employers in the UK are required to offer their employees a pension scheme and all employees must be automatically enrolled into the organisation’s pension scheme. A proportion of your monthly salary will be paid into the pension scheme by the University. Loughborough University provides two pension schemes as follows:
- For staff on grade 6 and above – the Universities Superannuation Scheme
- For staff on grades 1 to 5 – the Local Government Pension Scheme
Further information on the pension schemes is available from the HR Payroll and Pensions Team in the Rutland building.