Participating employers can access the Employer portal. It … Universities now make a contribution of 18% of salary, up from 16%, for each scheme member and will continue to do so. When the timing of this blog was planned I had hoped to be able to focus on the options that were under negotiation regarding the 2020 valuation of the USS pension scheme. It is important that USS is designed so that people in early career can also access an affordable pension." Oxford webinar on USS pensions 3 June 2020 When is the next rate increase due for USS pension scheme members? USS - For the future Welcome to the Benefit Illustrator, designed to provide you with an estimate of your USS benefits at retirement. What activities are planned for the scheme in 2020? How USS invests For employers. Next Previous Pause. Pension changes will leave university staff £240k worse off – study ... A typical USS member will be around £240,000 worse off because of the changes made to the scheme since 2011. Nothing in the current proposals changes anything that USS members have already accrued as pension rights. USS is a collective pension scheme for the university sector which includes over 350 employers and around 200,000 employees. The Universities Superannuation Scheme is a pension scheme in the United Kingdom with over £67 billion under management as of March 2019. Furthermore, the OSPS and OUP pension schemes at Oxford already operate on the basis of defined contributions. UCU is calling on employers in the Universities Superannuation Scheme (USS) to join it in demanding a change of approach to the ongoing 2020 valuation of the pension scheme. Unfortunately, for those of us who are members of the USS pension scheme there doesn’t appear to be as positive an outcome on its way in the next few months. If you are a current USS member and have received a benefit statement you can login to the illustrator below using your eight digit USS member number. Employers in the scheme include all pre-92 and some post-92 universities. Find out which employers participate in the scheme as well as information on eligibility and the procedures for eligible employers who wish to participate. The Universities Superannuation Scheme, the UK’s largest defined benefit pension fund with assets of £63.6 billion, is the latest scheme to be bound by this financial straitjacket. Pension scheme valuation versus pension funding and the cost of prudence (with reference to USS). Once an employer has signed up, they are bound to stay … In 2019, Cambridge University's Trinity College - one of the wealthiest Oxbridge institutions - decided to pull out of the scheme.