As part of the announced changes to USS, the scheme trustee is seeking members’ views in this survey, as it progresses the design of the new defined contribution (DC) section.
Some changes to USS will come into effect from April 2016, with the new DC section to be launched approximately 12 months from now, on 1 October 2016. For more information about the changes please refer to USS For the Future.
The new DC section will be relevant to all active members of USS. Members of USS earning above £55,000 per year will contribute to the new DC section on their earnings above that level (with a 12% employer contribution and an 8% employee contribution). In addition all members, irrespective of their salary, will have the opportunity to take up a 1% matching contribution from their employer.
The design work the trustee is currently undertaking is considering the appropriate range of investment options that should be offered to members. The survey the trustee is running seeks views on your attitudes to risk, your investment preferences and beliefs, your views around the 1% matching contribution, and on the retirement options that you might be looking for. It will complement focus group research being carried out by USS on the design of the new DC section. The survey has been developed by USS in partnership with A2Risk, a specialist research company.
Please be assured that your responses to the survey will be anonymous.
Please take this opportunity to feed in your views if you have not already done so. You can access the survey here.
The survey should take no more than 15 minutes to complete, requires no specialist pensions or investment knowledge, and will be open until 17.00 on Friday 16 October 2015.
Please contact the University Pensions team if you have any other queries.