Retirement quotes

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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.

Retirement quotes and provisional retirement quotes will be issued on the following basis:

  • Retirement date on or before 31 March 2016 – retirement quotes and provisional retirement quotes have been issued as usual.
  • Retirement date from 1 April 2016 to 30 September 2016 – retirement quotes began to be issued from 1 January 2016. Provisional retirement quotes will be available after 1 April 2016.
  • Retirement date on or after 1 October 2016 – retirement quotes and provisional retirement quotes will be issued for these dates from 1 April 2016.

If members require an estimate of benefits for a proposed retirement date outside the dates when one is available from USS, they can contact the person who usually deals with USS pensions at their institution who will be able to access an online provisional retirement calculator to estimate members’ benefits as currently provided.

A new benefit illustrator is available on the USS For the future website which enables members to estimate benefits based on the revised scheme to be introduced from 1 April 2016 including an estimate of any defined contribution (DC) benefits members may earn from 1 October 2016.

Please be aware these tools will provide estimates only and are not formal quotations and should not be used as a basis for making any financial decisions.

For more information about scheme changes please visit USS For the future.

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