Information and updates about the Universities Superannuation Scheme
Looking for our page of resources for the 2017 valuation? Click here!
The USS pension scheme covers all University of Sheffield staff on grade 6 and above. Currently a hybrid scheme consisting of a secure, ‘defined benefit’ arrangement for salaries up to £55,000 and a ‘defined contribution’ part over that threshold, the scheme must undergo a statutory valuation every three years.
Recent valuations have been hugely controversial, and have seen the scheme subject to significant downgrades. You can read more about the valuations of USS at the links below.
- The national UCU Pensions page and the Defend USS page have lots of information on the scheme and the negotiations with the employers.
- This Politics of Pensions article is from a UCU national members bulletin in November 2011, but is still very relevant today.
- The University’s retirement advice and information page and the Pensions Team are very helpful regarding your own pension and retirement.
- The USS website includes useful factsheets and a benefits modeller. Note however that the news section is now weighted heavily towards the employers’ opinions.