The Universities Superannuation Scheme (USS) is the principal pension scheme provided by UK higher education institutions.

Eligibility

Membership of USS is generally open to employees in grades 6 and above, if they:

• are not already in receipt of a pension from USS
• are aged under 75 upon entry

Eligible staff are automatically enrolled upon appointment.

Benefits

As a member you will accrue:

• a pension of 1/75 of your salary for each year of pensionable service up to a salary threshold.
  (1/85 from 1 April 2022)
• a cash lump sum of 3/75 of your salary for each year of pensionable service, up to a salary threshold.
  (3/85 from 1 April 2022)
• a money purchase pot in the USS investment builder for some of the contributions paid over the salary threshold

The salary threshold is currently £59,883.65 and will change to £40,000 from 1 April 2022.

Watch a short video for an overview of USS or take a look at USS' FAQs.

Contribution rate

The current member and employer contribution rates to USS are shown below.

	Member	Employer
1 October 2021	9.80%	21.40%
1 April 2022	9.80%	21.60%
Enhanced opt-out	2.50%	6.30%
Contributions in respect of earnings above the Voluntary Salary Cap	2.50%	6.30%

For contributions made on salary above the salary threshold, only the first 8% of member contributions and 12% of employer contributions will be paid into your money purchase pot in the USS investment builder.

Modellers

Prospective members who want to estimate how much they'll pay after tax relief can now do this on the USS website.

New or existing members who want a more in-depth breakdown of what they'll pay, including the impact of salary sacrifice can do this in My USS.