Get useful resources and find out the sorts of things we can provide you with
A guide just for you
We understand that as a financial adviser, you may need a lot of information from us. So we’ve created a handy guide to provide you with the details you need and answer your all-important questions. It covers everything from historic and current member contributions to what happens when a member dies, and lots more.
If you need specific information about a particular member, please send us a letter of authority. This will need to be addressed to Universities Superannuation Scheme Limited and be signed by the member. Once we have this on file, you’ll hold this authority for up to 12 months.
Universities Superannuation Scheme Limited
Royal Liver Building
Please note: If you are emailing a letter of authority you must provide the member number in the title of your email in order for us to locate the file quickly.
What we can provide
The member's Annual Member Statement contains the information below. But if the member can't provide you with a copy, we can provide this on request. We’ll usually issue this within four weeks.
Value of their pension and one-off, tax-free (up to a certain limit) cash lump sum: This is the value of benefits a member has in the Retirement Income Builder at 31 March.
Value of their Investment Builder pot: This is the current value of the member’s Investment Builder pot.
Lifetime Allowance (LTA): This is the LTA a member has used up (in respect of their USS benefits and savings only).
Annual Allowance (AA): This is how much AA a member has used up (in respect of their USS benefits and savings only).
Member’s salary: This will be based on the last full month’s pension contribution a member made.
Working out a member’s pension
There’s a a range of modellers and tools to help you get a clearer idea of what a member’s pension may be. These will help you estimate a member’s benefits, Annual Allowance and the cost of applying for Scheme Pays.
Below are a few forms which you may find handy when you’re acting on behalf of a member:
Election for Enhanced Opt Out form - Word version
This outlines the performance of each of the funds available in the Investment Builder. Members can access these by logging in to My USS, or upon request USS can provide you with a password to access them below.
Quarterly Investment Report for the Investment Builder
The USS normal retirement age is linked to the State Pension age, which is currently age 66. We call this the Normal Pension Age (NPA). Our guide explains how we apply the State Pension age.
Contributions are paid by active members and their employers. Visit what you’ll pay, for more information on what the contribution rate is.
When a member retires, they can choose a reduced pension to maximise the one-off, tax-free (up to a certain limit) cash lump sum they can take, up to a maximum of 25% of the value of their benefits. The maximum tax-free cash a member takes can’t exceed 25% of the member’s available Lifetime Allowance.
If a member wants to take their Retirement Income benefits before the Normal Pension Age, their benefits may be reduced. We’ve listed the reductions that may apply in our guide.