Universities Superannuation Scheme
Employees who are on academic or academic-related pay scales (generally grade 6 or above) are usually offered membership of the Universities Superannuation Scheme (“USS”). USS is administered from the scheme’s offices in Liverpool. However all enquiries from current employees should initially by made through the University Pensions Office. This site gives more information about the scheme and contains links to key pages on the USS website. To understand the advantages of contributing to the scheme see Five Good Reasons to be a member of USS.
Consultations are being carried out by Universities UK (UUK) and the USS Trustees with the 370 employers across the UK who use the Universities Superannuation Scheme.
USS and automatic enrolment
A new government initiative called auto-enrolment, which aims to increase the number of people saving in a pension scheme. In light of this, a number of changes have been made to the USS scheme rules the University to fufill its auto-enrolment duties. The USS has guidance now available which outlines what this changes are and which members are likely to be affected by them. Please refer to the USS Auto-Enrolment pages for full details. You can also view the 'Five good reasons to be a member of USS' here.
USS in detail
The USS scheme is administered for the University (and other institutions) by an external company, USS Ltd.
The USS website provides full details of the scheme, including the following USS pages:
- Scheme overview for active members
- Freqently asked questions (FAQ)
- Life events
- Information for members leaving the scheme (and previous members who retain a benefit in the scheme)
- Information for members approaching retirement