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USS Pension Scheme

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 October 2019:

Employee contribution rate 9.6%
Employer contribution rate 21.1%
Accrual rate

1/75th Pension of salary up to £58,589.70

3/75th Lump sum of salary up to £58,589.70

Additional contributions to a DC scheme Members can make additional contributions to the USS Investment Builder Section of USS.
Salary threshold Up to £58,589.70 in the DB scheme, with salary over £58,589.70 contributions will be made into the DC scheme.

 

More information on USS can be found here.

More information on the changes can be found – USS Scheme Change (PDF, 600 KB)