Helping you to understand the USS pension scheme

Thank you to everyone who took part in the two-question survey about the USS Pension Scheme which the Internal Communications team ran in University Bulletin on 10 and 24 March.

We asked you how well you understand the scheme and what you would like to better understand about it. A total of 256 respondents completed the survey – thank you too for your candid and insightful feedback. 

We asked you to rate from 1 to 5 how well you understand the scheme. Almost 25% of respondents rated their understanding at 1 – that they don’t understand much – and just 5% rated their understanding at 5 – that they do understand what they need to know.  

The University is committed to helping to make USS more understandable and accessible for its staff. From your comments, five clear themes emerged.

Here's what you told us, and how we’re responding: 

1. You said: ‘I don’t really know how USS works’ 

Many staff are unclear how the scheme operates – especially the difference between the Defined Benefit (DB) and Defined Contribution (DC) elements, how pension pots grow over time and how contributions translate into income in retirement. 

We will: 

Starting in July, we will run a series of short articles on the USS Hub – titled ‘Understanding USS’ – linked to from the University Bulletin. Each one will explain a key part of the scheme and we’ll invite you to say if you need more information. 

2. You said: ‘How do I prepare for retirement?’ 

Staff want to understand what to expect at retirement, including early retirement options, drawdown choices, monthly income and how to assess when they can afford to retire. 

We will: 

This summer we’ll publish a long-read article on planning for retirement in the University Bulletin. This article will include a short feedback survey so we can understand if it has helped – and what more you’d like to know. 

3. You said: ‘Can I contribute more and transfer other pensions into USS?’ 

There’s confusion around contributions: how much you can add, what happens above salary thresholds and whether you can transfer other pensions into USS. 

We will: 

Later this year we’ll run a webinar which will focus on contributions, transfers, and the tools available to help you plan. We’ll also explain the annual USS statement and how to use the online calculator. 

4. You said: ‘I’d like someone to explain the scheme to me’ 

Some staff feel overwhelmed and want clearer communication, real-life examples or someone to talk to directly. 

We will: 

We’ll work with the Pensions team to explore what support is available. We’ll share more about how you can access help – from resources to real conversations – in upcoming communications. Please be aware that the University’s Pensions team is unable to give financial advice but can help you to understand who you may need to contact. 

5. You said: ‘What happens during major life events?’ 

A smaller number of staff raised important questions around the safety of the scheme, ethical investments and what happens during major life events like maternity leave or bereavement. 

We will: 

We’ll address these concerns in our new series of short articles. We will continue to build helpful resources on the USS Hub that reflect the real-life scenarios you may face. 

What happens next? 

• July: the first of our new series of articles will be included in the University Bulletin and on the USS Hub

• Summer: look out for the long-read article in the University Bulletin which will look at considerations when planning for retirement 

• Autumn: join our webinar to discover how to make the most of your pension. 

Useful resources: 

My USS 

• Register for My USS to manage your membership online.  

• My USS is where you can view your annual pension statements, keep track of your benefits, update your contact details and complete your forms to ensure USS is aware of your beneficiaries in the event of your death. 

USS Hub 

• Visit the University’s USS Hub to ask the University’s USS Working Group a question and view Q&As about aspects of the scheme.  

• The Hub also signposts you to resources on the USS website, provides a glossary of pension terms and provides an archive of the University’s communications to USS members.