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The JNC has recommended to the trustee a modification to the benefit changes it proposed in August 2021.

As you’re building your pension, there are some tax restrictions you need to think about. And these restrictions apply to your pension with us – and with all other UK-based pension schemes.

USS, the largest private pension scheme in the UK, is appointing the former CEO of Church Commissioners for England as a non-executive director.

USS has been confirmed as a Master Trust, reflecting the high standards that are being met by the trustee in running the scheme on behalf of universities and in protecting members’ benefits.

If you are over the age of 65 when you retire, any benefits built up before age 65 up to 6 October 2020, will receive a late retirement uplift. This is based on the period between your 65th birthday and the date you retire.

High inflation is unlikely to have a positive effect on the scheme’s funding position. The pensions promised to USS members are currently increased every year both before and after retirement broadly in line with inflation. Higher inflation effectively makes the cost of fulfilling those pension promises to members more expensive. As set out in the Q&As above, it also presents challenges from an investment perspective.

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That’s the message from the whole pension industry, as we team up with the Pensions and Lifetime Savings Association (PLSA) and the Association of British Insurers (ABI) to support the 'Pension Attention' campaign.