After many months of consultation, negotiation and preparation, last Friday, 1 April, saw the launch of the new USS. Whilst some will undoubtedly be disappointed to see the end of the link to final salary, we shouldn’t lose sight of the fact that we are still left with a scheme that offers really valuable benefits. Yes, we’re all having to pay more (contributions are going up for both members and the University), but we still have a scheme which offers:

1. Defined benefits (for salary up to £55k) – this means you know from the start what you can expect to receive when you retire.

2. A package of benefits that helps protect you and your family, including death and ill-health benefits.

3. The opportunity for additional savings with a 1% match from the University (once the new ‘Investment Builder’ section opens in October).

Yes, pensions are dull and complex, but definitely not to be ignored. We’ll keep you updated by email, but go to the USS website for more details.