The employee and employer contribution rates for USS pension scheme members increased from 1 April 2019, and further increases are expected in October 2019. The contribution rates are set out in the Academic and Academic-related contract templates (including Marie Curie fellows) in the annexe headed ENROLMENT INTO UNIVERSITY PENSION SCHEME.
Unfortunately, due to an oversight, there has been a delay in updating the contract templates to reflect the new rates.
- The non-Core versions have now been updated (please press Ctrl+F5 to make sure that your web browser brings up the most recently updated version which will show ‘June 2019’ in the footer).
- The Core versions are currently being updated but, due to the V26 Upgrade, there will be a further short delay in their availability.
If you are in the process of drafting contracts at present please replace the previous ‘Contributions’ paragraph with the paragraph below.
All employees who join USS pay personal contributions to the scheme in accordance with the rules, as amended from time to time, of the pension scheme. From 1 April 2019 your monthly contribution will be 8.8% of your pensionable pay and the University’s monthly contribution will be the equivalent of 19.5% of your pensionable pay, with further increases expected in October 2019. The current employee and employer contribution rates can be found on the USS website. Your personal contributions will usually be collected by the University by way of deductions from your salary and paid over to USS, together with the University’s contribution. You will get tax relief on your contributions.