USS Pension Scheme
Capita Cyber Incident
Capita Cyber Incident - Update 26 May 2023 (PDF, 91 KB)
Capita Cyber Incident - Update 12 May 2023 (PDF, 97 KB)
With effect from 31 March 2016, the final salary section of USS will close to all members. Benefits accrued under the final salary section will be deferred. Members of the career revalued section which has been operating since October 2011, will also have deferred benefits under the current arrangement as at 31 March 2016.
From 1 April 2016, all members will move into the new improved career revalued section of USS.
Scheme information from April 2024:
| Employee contribution rate | 6.1% |
| Employer contribution rate | 14.5% |
| Accrual rate |
1/75th Pension of salary up to £70,296 3/75th Lump sum of salary up to £70,296 |
| Additional contributions to a DC scheme | Members can make additional contributions to the USS Investment Builder Section of USS. |
| Salary threshold | Up to £70,296 in the DB scheme, with salary over £70,296 contributions will be made into the DC scheme. |
USS New Joiner Leaflet - Salary Sacrifice (PDF, 167 KB)
USS New Joiner Leaflet - Non Salary Sacrifice (PDF, 148 KB)
Please note, membership of USS is not compulsory, and employees do have the right to opt out. By signing the Terms and Conditions of Employment, you authorise the University of make superannuation contribution deductions from your salary, as a salary sacrifice. If you do not wish to be a member of the Scheme, please contact the Pensions Administrator for more information.
If I opt-out, will you increase my salary to compensate?
Auto-enrolment regulations require that an employer cannot incentivise people to opt-out of a pension scheme by paying salary in lieu of pension contributions. This means that, legally, we are not able to pay you the employer contributions if you choose to opt-out of the scheme. If you are considering opting-out, you are strongly recommended to take professional pensions advice.
If I leave USS with less than 2 years’ service, can I receive a refund of contributions?
If you have contributed to USS for more than 3 months via salary sacrifice, you are not eligible for a refund. This is due to you giving up part of your salary, which the University then pays into USS on your behalf; as a result, you have paid lower Nation Insurance Contributions.
If you have paid in for less than 3 months via salary sacrifice, and decide to withdraw from the Scheme, as long as you have given the 28 days’ notice, and your end date with USS is still within the 3 months period, USS will refund your contributions.