USS Defined Benefit Pension Scheme
USS Final Salary
USS is a final salary, also known as defined benefit scheme. Under this type of arrangement your pension at retirement is based on the length of time you have been a member of the scheme (that is, the Pensionable Service) and your final Pensionable Salary at retirement. This scheme is now closed to new members with effect from 1st October 2011.
USS Career Revalued Benefits
The College will still offer a defined benefit pension scheme to all eligible members. The new USS Career Revalued Benefits scheme comes into effect from 1 October 2011 and is open to new members.
USS Career Revalued Benefits website
Further sources of information
Enquiries about the scheme or about an individual's entitlements should be sent to pension@qmul.ac.uk
The registered office of the Trustee Company is:
Universities Superannuation Scheme Limited
2nd Floor
Royal Liver Building
Liverpool
L3 1PY
Members may wish to up their pension using the USS Money Purchase AVC - please visit the following website for more information:
Prudential, the scheme’s AVC provider is introducing an early exit charge when Money Purchase AVC (MPAVC) funds are withdrawn within five years of such contributions having commenced. The charge will only apply to the funds of members who commence MPAVCs on or after 19 August 2012 - it will not apply to those who have commenced MPAVCs before that date.