Remuneration Policy | Annual Service Bonus |

Remuneration policy

A remuneration policy and practice must support and reinforce the achievement of the University vision and strategy. Remuneration and related policies reflect the institution’s values by highlighting what it sees as important and therefore what it rewards.

UCT’s strategy and vision is to be an outstanding teaching and research university, educating for life and addressing the challenges facing our society. The vision will, inter alia, be enabled by the implementation of a remuneration policy which attracts, retains and rewards staff who contribute to the realisation of the vision. The University is also committed to fairness and equity in its dealings with staff and the remuneration policy must reflect these University values.

The following policy parameters have been approved by Council as a framework for remuneration decisions:

• Constructing a specific cost of employment structure that enables UCT to attract and retain a quality and representative staff in its teaching, research, professional, administrative and service categories; and to do this inter alia with reference to appropriate market rates where these are relevant, and benchmarking specific categories where required
• Ensuring internal equity and fairness in and between the various pay categories
• Building incentives in the cost of employment structure to encourage and reward excellent performance, on objectively defined criteria
• Recognising basic needs of staff, and ensuring that compensation addresses cost of living and inflation, particularly in the lower pay classes
• Ensuring that staff costs are within the budget set by Council, and are sustainable over time
• Encouraging revenue generation and adherence to cost recovery and private work policy while retaining a spirit of co-operation and a unified faculty

Annual Service Bonus

UCT offers a service bonus which is paid annually in November and is part of your total Cost of Employment (COE).

If employed for a full calendar year with no unpaid days and no change in COE, the service bonus is calculated as 70% of annual COE divided by 13.

The service bonus is payable to staff on a pro-rata basis upon termination of service i.e. resignation prior to 30 November in a year.

Page last updated: 2 March 2011