A one-hour briefing session to find out about changes to the USS (Universities Superannuation Scheme) pension scheme. The event will provide additional details around the new USS Investment Builder as well as recapping on what’s already changed.
The presentation will also be given on 30 June at 9.30am, 11.30am and 1.30pm in room 3 of the University Offices, and at 4pm in the Saïd Business School. On 18 July it will be given at 10am in the new Biochemistry building and at 3.30pm in room 3 of the University Offices.
• Since 1 April 2016 all members became part of the USS Retirement Income Builder. Benefits continue to be worked out based on a formula that includes your salary up to the salary threshold - initially £55,000 a year.
• On 1 October 2016, the USS Investment Builder will launch. This will supplement the existing USS Retirement Income Builder.
All members have the option to contribute to the USS Investment Builder. If you pay at least 1% of your salary as an extra contribution your employer will match this. Additionally, if you earn over the salary threshold – initially £55,000 a year - you’ll automatically join the USS Investment Builder, and you and your employer will make contributions to that section in respect of salary above the threshold.