Information and updates about the Universities Superannuation Scheme
UCU negotiates nationally on behalf of members of USS. However, we do not run any pensions schemes, we do not have any information on individual members’ pension entitlements, and we are unable to provide financial advice.
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 and a ‘defined contribution’ part over that threshold, the scheme must undergo a statutory valuation every three years.
The employers’ proposals will put an end to the final salary scheme, shift USS members onto career average pensions (on terms inferior to the post-92 universities’ scheme), and introduce for the first time an element of ‘defined contribution’ pension where the risk is on the individual rather than the institution. Isn’t there a substantial deficit […]
Use your vote, speak to your colleagues and email this flyer that provides more information. You will have seen recent briefings about the USS ballot that starts today and closes on 20th October. Your paper ballot form will arrive during the next few days. The proposals will mean lower benefits, less guaranteed income in […]