From 1st April 2016 all existing members transferred to USS Retirement Income Builder CRB.
Final salary section of the scheme closed at 31st March 2016 to all members.
Career revalued benefits section (CRB) has a revalued benefit, worked out at the end of each year and added to any previous benefits built up in the scheme. This section applies to staff that joined on or after 1st October 2011.
This scheme has now closed (at 31st July 2013) and all members have been transferred across to USS.
The present scheme administrators are XPS Pensions Group.
Address : USPS, XPS Administration, 1st Floor Flax House, 83-91 Adelaide Street, Belfast, BT2 8FF
Telephone : +44 (0)28 9032 8282
New Entrants will join the USS Retirement Income Builder which will provide defined benefit pensions on a Career Revalued Benefits (CRB) basis of the USS scheme. Benefits are worked out at the end of each year and will include any previous benefits built up in the scheme.
From 1st October 2016 there are two sections to USS that work alongside one another;
1. USS retirement income builder
2. USS investment builder
USS Investment Builder member service desk helpline Tel: 0333 300 1043.
Employee's contribution = 8% as from 01 April 2016
University of Stirling (employer's) contribution = 18% as from 01 April 2016
If you leave the University or decide to leave the pension scheme you will stop paying contributions. Contributions you have made can either be paid back to you (subject to conditions), held as deferred benefits in the scheme until you retire or moved to another scheme depending on how long you have been a member.
You should contact USS directly for more information on any of these options.