Staff Supplemental Pension Plan (SSPP)

Eligibility

Full-time supporting staff who are non US citizens/residents (levels 1 - 9) including those filling skilled, semi- skilled and service jobs.

 

Participation

Participation on a voluntary basis to all local supporting staff within the terms stated in the policies and procedures manual. Participation is not automatic; an enrollment form should be filled out by the employee.

 

Subscriptions

The University contributes 9 percent and the employee contributes 6 percent of 120 percent of gross salary on a monthly basis. In this sense, CIB establishes individual accounts for AUC employees under a global set-up in the name of the AUC Staff Supplemental Pension Plan. Monthly contributions that do not reach LE 500 are placed in savings, whereas TDs which are multiple of LE 500 are placed subsequently, with three-year duration.