If you’re moving overseas, you can ask your new scheme whether you can transfer your USS pension over to them.
We won’t transfer to an overseas scheme unless it’s a Recognised Overseas Pension Scheme (ROPS). So we’ll check this before completing the transfer. You can also check this for yourself using the Recognised Overseas Pension Schemes notification list.
If your new scheme doesn’t meet certain conditions, you may be charged an Overseas Transfer Charge (OTC). It’s a 25% tax charge taken from your transfer. The OTC is 25% of the transferred value. Even if you don’t need to pay this right away, you may need to pay it later if circumstances change within five years.
For more information on moving overseas, see our Working or retiring overseas factsheet.