Dear colleague,
The deadline for you to contribute to the USS pension survey is this Friday (7 May).
We would highly value five minutes of your time to complete this short survey to gain your views on the future of the scheme.
Responses will inform the University's response to the UUK consultation.
Here is a reminder of what the key terms included in the survey mean:
- Valuation: An assessment of a pension scheme’s overall financial health.
- Benefits: Money received by an individual or their dependants from a pension scheme. Given at retirement or following other life events such as sickness or death.
- Defined benefits (DB) scheme: A form of retirement savings where members are promised a set amount of pension benefits, based on their salary and length of service, which are (broadly) inflation-proofed.
- Defined contributions (DC) scheme: A form of retirement savings where members are not promised a set amount of pension benefits. The total amount of benefits members receive will depend on how much they and their employers contribute, the level of charges that have applied, and how well the pension scheme's investment fund has performed.
You can watch a recording of the recent USS pension Open Session for more information.
If you have any queries or would like to provide other written feedback please email ussconsultation@abdn.ac.uk.
Best wishes,
Professor Karl Leydecker
Senior Vice-Principal