Operational updates
Anti-money laundering
For action
On 26 June 2017, the Money Laundering Regulations 2007 were repealed and replaced by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The Regulations set out the obligations that apply to Universities Superannuation Scheme Ltd as a “relevant trust”.
What does this mean for employers?
Because USS now need to hold prescribed information about every institution to meet the Regulation’s requirements, we’ll need to collect some additional information from you. We would like to receive this information from you by Thursday 31 January 2019. We’ll ask you for your institution’s:
- corporate name;
- registered office address;
- legal form of institution (eg limited company, charity); and
- unique taxpayer reference (if you have one).
Information about your unique taxpayer reference is available from www.gov.uk/find-lost-utr-number.
Once you have collected all this information you can send it to us via this link: USS AML information gathering. If you have any queries, please contact Nichola Roane, Client Relationship Manager by email or telephone on 0151 556 0805.
New retirements FAQ
For action
We’ve recently answered some of the questions we’re asked most often about the retirement process in a new Retirements FAQ. You’ll be able to find the FAQ in the employer portal’s Employer resource hub section. Let Nichola Roane, Client Relationship Manager, know if there are any other questions you’d like answering…
Automating the leaver process
For action
As part of the continuing improvements that we make to our processes we’ve recently introduced further automation to our leaver process. This means that when you submit your leaver notifications for members leaving since 1 April 2018, via the HR interface, the entire process will now be completed automatically, from when you submit the HR interface to USS generating the letters. It’s much more efficient and a great improvement.
What does it mean for employers?
You won’t need to do anything differently. The more efficient process should ultimately mean that members get their deferment letters more quickly.
However, if you discover that you have a significant number of leavers, with a date of leaving of before 1 April 2018, it would be helpful if you could let Elaine Matthews know at USSInterfaceSupport@uss.co.uk. You’ll still put them through the HR interface in the normal way but we’ll still be administering them outside the automated process.
Voluntary Salary Cap form
For information
The updated Voluntary Salary Cap election form for 2019 elections is now available via the employer portal.
2019 Calendar
For information
Watch the post, you’ll soon be receiving your 2019 desk calendar from USS! The calendar features useful information about the USS employer portal and how you can keep in touch with us. We hope you find them useful.