USS|Member news and updates

Welcome to USS member news. Below you will find the latest news and updates containing important information relating to your USS membership.

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AVC|Tax considerations

Changes to the Money Purchase AVCs arrangement with Prudential

As previously communicated, we have made some changes to the Money Purchase AVCs (MPAVC) arrangement with Prudential.

AVC|Tax considerations

Proposed changes to money purchase annual allowance - do they affect me?

The government has plans to reduce the Money Purchase Annual Allowance (“MPAA”) from £10,000 per annum to £4,000 per annum from April 2017. While the proposed reduction is subject to a consultation and confirmation in regulations due in 2017, we’ve set out below a reminder of when the MPAA is triggered.

Maximising your pension

Transferring in

The process for members to transfer into USS has changed and, from 1 October 2016, members have been able to transfer benefits into the USS Investment Builder.

Retiring

USS and the new state pension

The Government introduced the new state pension from 6 April 2016 and this was combined with the end of the system of contracting-out of the state second pension.

Tax considerations

Annual allowance scheme pays election

Annual allowance scheme pays election

Scheme changes

Non-club transfers

From 20 May 2016, USS have ceased to accept applications to investigate non-club transfers into the USS Retirement Income Builder.

Scheme changes

Spotlight on the new USS Retirement Income Builder

The USS Retirement Income Builder is the new way you can save for your retirement, providing you with greater confidence and security for your future.

Tax considerations

Pension scheme tax allowances

Changes to lifetime and annual allowances have been confirmed by HM Revenue & Customs.

Retiring|Scheme changes

Retirement quotes

Changes to USS scheme benefits that are due to be introduced from 1 April 2016 mean that there are some specific timeframes to bear in mind if you need to request a retirement quote.