USS Pension Scheme

Important Changes to USS - an update

Following a consultation with all members and potential members of the USS pension scheme, the benefits that USS provides to its members will be changing with effect from 01 April 2016.

The Final Salary Link will cease for its members with effect from the 31 March 2016.  Both the Final Salary section and the current Career Re-valued sections of the scheme will be replaced by a new Career Re-valued Scheme from 01 April 2016.  In addition, for members who currently earn above £55,000 per year, pension contributions paid on the excess salary above this level will be paid into a new Defined Contributions Scheme.

Further information concerning these changes can be found on the USS website, under the ‘For the Future’ section.  To access the website please visit https://forthefuture.uss.co.uk/

For queries about your pension please contact: pensionqueries@lists.bham.ac.uk

Details concerning Salary Sacrifice please refer to the following information:


 

Further information on the USS Reform Proposals

  1. USS High Earners Presentation by Tim Fuery January 2016
  2. USS Changes Presentation by Tim Fuery January 2016
  3. Original changes information - came into effect 1 October 2011
  4. Employer Consultation 2015
  5. The potential joint proposal for reform of the USS - A Summary for USS Members - January 2015
  6. Why is reform of the USS both necessary and urgent? - January 2015 (pdf document 283 kb)
  7. Pensions Today - Presentation with Tim Fuery and Adrian Buckley December 2014 (pdf document 1.04 mb
  8. Original USS UK Proposal for reform of USS - December 2014 ( pdf document 231kb)