All members of the USS pension scheme will shortly receive an email which summarises a joint proposal for reform of the scheme from Universities UK, representing employers including the University of Warwick, and UCU. UCU members have in the past week been considering whether this enables them to call off a marking and assessment boycott, which would otherwise come into force with effect from this Friday, 30 January 2015. We very much hope that this action is now avoidable.
Please note that the Employers Pensions Forum (on behalf of all USS employers) has now provided an estimator which will give you a broad indication of the impact the joint proposal will have on your pension benefits – this can be found at www.benefitestimator2015.com. Please note that we have not had a chance to check all of the details in this model, and, like any estimator, it is unlikely to be able to take into account all personal circumstances.
We shall of course be consulting all members of USS (and those eligible to join) on the details of the final proposal; this is likely to be in the period mid-March to mid-May 2015 and we shall be holding an Assembly meeting as part of the process. A date for this will be confirmed as soon as possible.
Stuart Croft (Provost)
Ken Sloan (Registrar)
Editor's note 2016: Please note the benefit estimator website is no longer active. You can now find benefits modelling and illustration tools on the USS website at https://www.uss.co.uk/en/members/members-home/resources/modelling-and-illustration-tools
Information on pensions for Warwick staff is available on the HR website at http://www2.warwick.ac.uk/services/humanresources/rewardandbenefits/corebenefits/pensions