USS drop-in sessions
Published: 7 November 2014
Dates have been announced for staff drop-in sessions to give USS members the opportunity to ask questions about proposed changes to the pension scheme.
The University of Glasgow's Director of Human Resources, Christine Barr, has written to staff outlining proposed changes to the Universities Superannuation Scheme (USS).
The employers’ proposed reforms are:
- The final salary section would close for future benefits, with existing benefits protected and calculated using pensionable salary and service at the date of change.
- Future pension for all members would build up in the career revalued benefit (CRB) section on earnings up to a salary threshold – proposed at £50,000.
- Pension on salary above the threshold would be provided in a new defined contribution (DC) section.
- All members would also have the option to pay an additional 1% of salary into the DC section, which the employers would match.
These proposals have been put forward due to a large deficit within USS to ensure that it remains sustainable, attractive and affordable for both current and future members.
The University is planning drop-in sessions for staff over the next few weeks to assist and provide USS members with the opportunity to raise questions. Details of these sessions are as follows:
| Date | Time | Location |
|---|---|---|
| Friday 14 November | 11am - 12 noon | Senate Room, Gilbert Scott Building |
| Friday 14 November | 2pm - 3pm | Ilay Lecture Theatre, Garscube Campus |
| Monday 17 November | 2pm - 3pm | Room 253, Gilbert Scott Conference Suite, Gilbert Scott Building |
| Monday 24 November | 2pm - 3pm | Hugh Fraser Seminar Room, Wolfson Medical School |
All USS members are welcome to come along. Information can also be found at:
www.gla.ac.uk/services/finance/payandpensions/usschanges/
First published: 7 November 2014
<< November