November 26th, 2021
The university is arranging another day of one-to-one information sessions for members of the USS pension scheme to answer any questions they may have on the series of changes to the scheme that have been approved by the USS Trustee.
These changes are being made to avoid significant increases in contribution rates for members and employers, whilst maintaining the scheme’s Defined Benefit /Defined Contribution hybrid model to provide members’ retirement incomes.
To support these changes, university employers are making commitments to underpin the scheme’s covenant worth some £1.3 billion. Other reforms include commitments to explore alternative scheme designs, including conditional indexation; a major review of how the USS pension is governed; and the development of a flexible, low-cost option for lower paid members of staff.
More information on the changes and the consultation process can be found at the USS Consultation webpages.
If you are a member of the USS pension scheme, and you have questions about the changes, you can book a 15-minute video-conference session with consultants from leading independent pensions management company Isio.
To book an appointment, please email firstname.lastname@example.org.
Appointments will be offered on Thursday 9 December 2021 on a first-come, first-served basis.
Isio will be able to answer your questions, help you understand the background to the changes, highlight resources and identify some areas that it may be helpful for you to explore further. To get the best from your sessions, do offer an indication of the topic(s) you want to discuss when you book.
Please note however that neither the university nor Isio are able to provide any personal financial, investment or tax advice during these sessions and attendance does not constitute independent financial advice. This will be confirmed in a standard compliance notice that will be issued.
Please also be aware that Margaret Monckton, Chief Financial Officer and Prof Andy Long, Deputy Vice-Chancellor will be doing another round of USS Roadshows in January coinciding with the end of the consultation period, invitations will be sent out soon.
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