USS: Pensions tax information

For comprehensive information about pensions tax, refer to USS guidance (uss.co.uk)

Annual allowance statements

Information about your annual allowance usage is now contained in your annual statement. Individuals requiring an annual allowance statement in any other circumstances should request one directly from USS using the "contact us" facility in the My USS member portal.

• Find out more about the annual allowance (uss.co.uk)

Managing a pensions tax liability

USS offers a number of flexibilities with the scheme to help members manage their tax liabilities. These include:

• opting out of USS on an enhanced basis (preserving death and ill health cover but no other benefits)
• electing for a voluntary salary cap (where you reduce the level of your pensionable salary)
• making a scheme pays election (where you ask USS to pay your annual allowance tax charge).

Deadlines apply for making some of these elections, please refer to the relevant USS guidance for details. 

Advice

Pensions tax is a complicated area, and you may find that you require financial advice. USS provides lots of useful information about where and how you can obtain financial advice. USS members are also able to book a chargeable appointment with Mercer, a specialist consultancy firm whom USS has appointed to give scheme members advice.

• Sources of guidance and financial advice (uss.co.uk)
• Find out more about Mercer (mercer.com)

The University's Pension Team is not able to provide you with any form of advice and cannot calculate your tax position for you.