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Pensions

As a valued member of the Warwick community, you have access to one of three attractive pension schemes depending on your role - Universities Superannuation Scheme (USS), University of Warwick Pension Scheme (UPS) or NHS Pension Scheme.

You will be notified of the pension scheme you are eligible to join in your onboarding material.

Click on the logos below to find out more information about each scheme.

NHS PSUSSups_logo.jpg
If you are considering retirement you may wish to review the retirement process here.

News and updates

Master Trust Consultation

The University is proposing to close the Current DC Section of the University of Warwick Pension Scheme (UPS) and introduce a Master Trust (operated by Standard Life) with effect from 1 May 2024. For further information click here.

USS contribution rate changes from 1 January 2024

USS have confirmed that the employee contribution rate will decrease from 9.8% to 6.1% with effect from 1 January 2024.

If you are eligible and not part of the scheme, we have emailed you about how you can opt in to the USS pension scheme if you wish. If you have any questions, please email hr.pensions@warwick.ac.uk.

Some employees have enquired about maintaining employee contributions at 9.8%. Employees can choose to make additional contributions in respect of the difference between 9.8% and 6.1% or whatever rate they prefer, and these will be paid into the Investment Builder Section of the Scheme.

To elect to pay any additional contributions into the Investment Builder Section of USS, employees will need to log in to My USS and make the election under the Investment Builder Section. Please note the cut off date for January's payroll has now passed. You can locate appropriate payroll cut off dates at HR & Payroll Cut-Off Dates in SuccessFactors (warwick.ac.uk).


Important information about Capita’s cyber incident

USS's technology partner, Capita, has been the target of a cyber attack, and some of the data it holds on its servers for USS has been compromised. To find out further information click here.


Expression of Wish Forms

It is always good to keep your Expression of Wish Forms updated, especially if your personal circumstances change. Please click the following links for each scheme's form: USS, UPS DB and UPS DC


Scottish Widows - Auto Re-enrolment

If you have been re-enrolled into the University of Warwick Pension Scheme - DC Section, you will need to contact Scottish Widows to opt out of the Scheme. However, please only contact them once you are in receipt of your Welcome Pack that they will send to you. You will not be able to opt out before this has been issued.


University of Warwick Pension Scheme - DB Section

The Pension Scheme Administrators Barnett Waddingham have sent out a letter to all members of the Scheme about the ability to access their pension information online. Barnett Waddingham have been the Pension Scheme Administrators since 2010.

     

    If you would like to speak with us, please contact us via hr dot pensions at warwick dot ac dot uk.

    Telephone: 02476 150 133

    Timescales for popular requests (weeks):

    Retirement Quotations: 4 - 6

    Cash Equivalent Transfer Values: 4 - 6

    Useful Links

    Salary sacrifice FAQs

    Salary sacrifice Factsheet

    Universities UK

    Warwick's Retired Staff Association (RSA)

    The Pensions Regulator

    www.unbiased.co.uk

    UPS DC Frequently Asked Questions

    UPS DB Frequently Asked Questions

    USS Frequently Asked Questions

    Pension Presentations

    Pension Taxation

    Pensions ScamsLink opens in a new window