40 City of Glasgow College Annual Report & Accounts 2020-21
Senior staff by Pay band
2021
No. Of
Higher
Paid Staff
2020
No. Of
Higher
Paid Staff
£60,000 to £69,999 - £70,000 to £79,999
- £80,000 to £89,999
1 2
£90,000 to £99,999 3 £100,000 to £109,999
1 1
£160,000 to £169,999 1 1
Principal Salary
The Principal received a salary of £166,000 and benefits
in kind of £1,000 during the year 2020-21.
Median remuneration
Based on the 12 months equivalent figure above the
banded remuneration of the highest paid official in the
organisation in the financial year 2020-21 was £165,000
to £170,000 (2019-20 £160,000-£165,000). This was 4.0
times (2019-20 4.1 times) the median remuneration of
the workforce, £42,357 (2019-20 £39,520). These figures
have been audited by Azets Audit Services.
Accrued Pension Benefits
Pension benefits for employees are provided through
the Scottish Teacher's Superannuation Scheme (STSS)
a defined benefit scheme, which is notionally funded
and contracted out of State Earnings Related Pension
Scheme and the Local Government Pension Scheme
(LGPS). Both STSS and LGPS are final salary pension
schemes. This means that pension benefits are based
on the final year's pay and the number of years that
the person has been a member of the scheme. The
scheme's normal retirement age is 65. Contribution rates
are set annually for all employees and can be found in
note 22. There is no automatic entitlement to a lump
sum. Members may opt to give up (commute) pension
for lump sum up to the limit set by the Finance Act 2004.
The accrual rate guarantees a pension based on final
pensionable salary and years of pensionable service.
Senior Officials Pension
Pension benefits are provided to senior officials on
the same basis of all other staff. The accrued pension
benefits for senior officials are set out in the table below,
together with the pension contributions made by the
College. The figures have been audited by Azets Audit
Services.