Latest Pensions News
UCEA have created an infographic to provide insight into the rising cost of pensions which can be found here.
USS Valuation 2014
USS are currently undertaking their 2014 scheme valuation. Further information about this process can be found here.
Recent coverage of USS in the media
USS have released a statement to help members understand the trustee company's assessment of the current scheme funding situation. A member update can also be accessed via the following link:
New SAUL Website
SAUL have re-launched their website in an easy to access format. It includes new pension calculators to help members plan for their retirement and improved navigation so that you can easily find the information you need. Click here to access information about the scheme.
SAUL Annual Review 2014
The 2014 Annual Review is now available via the SAUL Website. This outlines the scheme's performance during the last year and contains details about the benefits of the scheme.
Prudential review of Exit Charge for USS Money Purchase Additional Voluntary Contributions (MPAVCs)
When the exit charge was first introduced for short term MPAVC applications after the 19th August 2012 Prudential committed to review the level of charge and make any adjustments deemed necessary based on experience of new applications and any other factors. Some significant changes mean that Prudential are now in a position to reduce the exit charge as follows from 24 October 2014:
1. The exit charge will only apply if the member withdraws their MPAVC fund within 3 years of making their first contribution instead of the current 5 years.
2. The charge applied will be reduced to 3% in year 1, 2% in year 2 and 1% in year 3. No exit charge will be applied if the term of the MPAVC exceeds 3 years.
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