Pension FAQ's

To find the answers to some of the most common queries click on the question links below.  If you can't find the answer to your question please contact the payroll team.

What does AVC mean?

AVC stands for Additional Voluntary Contributions.  By paying Additional Voluntary Contributions you can enhance your retirement pension.  Further information for the USS scheme can be found here.

From 1st October 2016 a new defined contribution (DC) section, the USS Investment Builder will be available - more information can be found here

Can I have a refund of contributions?

You can only have a refund of contributions if you have been a member of  USS CARE pension scheme for less than two years.  If you were a member of USS PensionSmart, salary sacrifice scheme,  you will not be entitled to a refund.

What should I do I wish to transfer benefits from another pension scheme?

You should contact the payroll team who will ask you to complete a transfer request form giving some information about your previous scheme. Any paperwork you have relating to this scheme would be helpful. This information will then be sent to the Administrators of the scheme. They will contact the company or employers given on the transfer form. Once a transfer quote has been obtained further details will be sent to you. You should then seek advice from an Independent Financial Advisor to discuss if this if a valuable offer. If you wish the transfer to go ahead, this will be completed and confirmation sent to you in writing.

What should I do about my pension if I leave the University?

We will advise the scheme administrators of your leaving date. The scheme administrators will send details of options available to you by post.

Can I transfer my pension benefits on leaving Stirling?

You may transfer your benefits to another pension arrangement approved by HM Revenue and Customs such as a personal pension or Stakeholder arrangement - or to a new employer's occupational scheme if the trustees of that scheme agree to accept it (they are not obliged to).

You cannot receive the transfer value personally as cash; it must be transferred to a bona fide pension arrangement approved by HM Revenue and Customs to provide you with retirement benefits. If a payment is made to another arrangement, you will no longer be entitled to any further benefits under the Scheme.

What if I change my name or address?

You should contact the Scheme Administrators to inform them of any changes.  See the main pension page for contact details.

Where can I find information about a pension with a previous employer?

The Department for work and pensions offers a free service that helps individuals trace 'missing' pensions.