USS: Changes to future benefits to be implemented from 1 October 2011
01 Sep 2011
Employees wishing to join the Final Salary section of the Universities Superannuation Scheme must apply in writing by 7 September 2011.
Details of the changes are online at:
All existing members should also have received a summary of these changes with the recent service statement (distribution started 27 June).
Employees who join USS after 30 September 2011 will become members of the Career Revalued Benefits section with a contribution rate of 6.5%.
Existing members of the Final Salary section will see their contributions increase to 7.5%. There is a modeller on the USS website showing how take home pay is affected by the increase in contributions.
Any employee who is not a current member but believes they are eligible for USS and wishes to join the Final Salary section, must send a written request (signature required) to the Pensions Office in John Owens Building no later than 7 September 2011.