Please find below historic news articles relating to the various University Pension Schemes.

USS News Archive

2024

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 MyUSS 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).

2023

USS consultation opens 25 September 

If you are a member of Universities Superannuation Scheme (USS), or eligible to join, you will receive an email in mid-September from hr.pensions@warwick.ac.uk with details of a consultation on proposed USS benefit improvements (which would take effect from 1 April 2024).  

Please do take the time to read the details and share your views through the USS consultation.  

The USS consultation website goes live from 25 September 2023, and will include frequently asked questions. 

The pensions team at Warwick will consider any staff feedback, and if necessary will add further FAQs to the Warwick pages as the consultation develops. 

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.

2021

USS Consultation briefing sessions

Please click this link to find out more about these sessions that were previously held. USS Consultation: Briefing Sessions

USS valuation briefing sessions.

Please visit the USS Valuation Briefing Sessions page to see a recording of the briefing sessions.

USS changes - Potential for Disruption from Industrial Action 18 October 21

Please find an update from Professor Stuart Croft about the potential for disruption from industrial action here. Please also find Q&A's about the USS Changes here.

USS changes - response to UCU message 7 October 21
Please find a response from Professor Stuart Croft to UCU's email here.

USS changes – perspective from Professor Stuart Croft 22 September

Please find an update from Professor Stuart Croft on the proposed USS changes here.

USS Valuation - Proposed Benefit Changes - 8 September 2021

Please find an update about the USS Valuation and the proposed benefit changes here.

USS Valuation as at 31 March 2020- Employer Response

The University of Warwick’s response to the Universities UK consultation with employers on the indicative outcomes of the 2020 valuation can be found here.

2020

USS Annual Benefit Statements 2020.

These are being sent direct from USS to members home addresses and were dispatched week commencing 14th September 2020. If you have any queries about the contents of your Annual Benefit Statement you may wish to view USS's support pageLink opens in a new window. There is a great video which explains your statement and various FAQs which may deal with your enquiry.

Notice of statutory consultation in relation to the Universities Superannuation Scheme: Proposed change to maintain the revaluation of the salary threshold.

The consultation will run from Friday 24 January 2020 for 60 days, until 5:00pm on Monday 23 March 2020. Further details can be located at Salary Threshold Consultation 2020.

2019

• USS pensions update: March 2019.
• USS members will be aware from previous updates that there has been a series of consultations relating to the USS scheme valuations. This new update provides further information on the latest position and how you can find out more.
  
• USS pensions update: January 2019.
  Read Warwick's feedback to Universities UK about proposed changes to Universities Superannuation Scheme (USS).

2018

• USS valuation: Universities UK (UUK) shares employer feedback on Joint Expert Panel (JEP) report.
  In September, UUK invited Universities Superannuation Scheme (USS) employers to share their views on recommendations proposed in the JEP report, which considers the 2017 USS pension scheme valuation. 127 employers, including Warwick, responded to this independent consultation.
• Warwick's feedback on the Joint Expert Panel (JEP) report (November 2018).
  The Joint Expert Panel (JEP)'s first report reviews the USS 2017 valuation and makes a number of observations and recommendations. The University has read and responded to the report.

• Changes to USS communications (27 September 2018).
  Members of the Universities Superannuation Scheme (USS) can now access the scheme’s monthly newsletter via Warwick’s USS webpages.

• USS Joint Expert panel report published (18 September 2018).
  The Joint Expert Panel (JEP) - formed by Universities UK (UUK) and the Universities and Colleges Union (UCU) in April to consider future options for the Universities Superannuation Scheme (USS) - has now delivered its report on the 2017 USS valuation. Find out more
• USS consultation - have your say (3 September 2018).
  

  All current and eligible USS members should now have received paperwork from Warwick’s Pensions team. This paperwork explains the USS consultation, which asks members and eligible employees to have their say on proposed changes to the USS scheme before 2 November 2018. Please do take the time to read through this document and share your views directly with USS – if you have not received your paperwork, please contact the Pensions team.

• USS update (25 July 2018).
  

  USS, one of the pension schemes that serves the University sector, has proposed potential changes to member and employer contributions from April 2019. Find out how this affects you.

• Update (16 April 2018).

  USS has published some information on the 2017 valuation, addressing what they consider to be myths and misconceptions that have taken hold. Find out more.

2017

• USS valuation 2017.
  Universities UK has recently asked for employer views on new proposals from Universities Superannuation Scheme (USS). Find out more.

UPS News Archive

• University of Warwick Pension Scheme - Statement of Investment Principles 2019.
  The Chairs statement and Statement of Investment Principles 2019 for the University of Warwick Pension Scheme - DB and DC Sections can be located at The University of Warwick Pension Scheme pages.
• UPS minimum pension contribution rates change - April 2018.

Other News Archive

The University of Warwick Pensions Team have engaged Close Brothers to provide pre-retirement education seminars to assist employees.

• Employees can register for the live “Financial planning for retirement” webinar to be held on Friday 20th November 2020 at 10am.
• Pre-recorded videos on related topics will also be made available.

Further details can be found at the Close Brothers information page. If you are unable to make this date and would be interested in another event then, please email hr.pensions@warwick.ac.uk.