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Presentation for USS members Eifion Morris APMI

Presentation for USS members Eifion Morris APMI. How USS works.

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Presentation for USS members Eifion Morris APMI

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  1. Presentation for USS members Eifion Morris APMI How USS works Every effort has been made to present accurate information. Members are advised to check with their employer and/or the USS guides to confirm their understanding before acting on any information given. This presentation may be recorded for training and audit purposes.

  2. Agenda

  3. How much will your pension be?

  4. The basics

  5. The calculation Each year your pension & tax-free cash are calculated and ‘banked’

  6. Example We now need to add increases ‘revaluation’

  7. What does ‘Revalued’ mean?

  8. Example

  9. Getting more out of USS

  10. Put more in to get more out

  11. Help from the tax man

  12. Help from the tax man

  13. Tax allowances

  14. Tax allowances

  15. Added years modeller

  16. Money Purchase AVC calculatorwww.pru.co.uk/uss

  17. How to pay AVCs

  18. Transferring benefits in to USS

  19. Transfers in to USS

  20. Bereavement benefits

  21. Benefits for your dependants

  22. Dependant’s pension – how much?

  23. Dependant’s pensions

  24. When can you stop working?

  25. Normal retirement

  26. Future increases to NPA - 66 October 2020 NPA increases to 66

  27. Early retirement

  28. Varying pension and cash

  29. Scheme Valuation 2014

  30. Valuation 2014

  31. What next?

  32. What next? • Pensions office contacts • Prudential www.pru.co.uk/uss0800 234 6913 • USS www.uss.co.ukPensions TV

  33. Your questions

  34. Benefits on leaving

  35. Options after leaving

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