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Presentation for USS members Eifion Morris APMI

Presentation for USS members Eifion Morris APMI. Your USS Journey.

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Presentation for USS members Eifion Morris APMI

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  1. Presentation for USS members Eifion Morris APMI Your USS Journey 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. What is salary?

  7. Working out the pension

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

  9. What does ‘Revalued’ mean?

  10. Example

  11. Getting more out of USS

  12. Put more in to get more out

  13. Help from the tax man

  14. Help from the tax man

  15. Tax allowances

  16. USS tax options

  17. Added years modeller

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

  19. How to pay AVCs

  20. Keep your house in order

  21. Transfers in to USS

  22. Benefits for your dependants

  23. Dependant’s pension – how much?

  24. Dependant’s pensions

  25. What if you leave?

  26. Benefits on leaving

  27. Options after leaving

  28. When can you stop working?

  29. Normal retirement

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

  31. Early retirement

  32. Varying pension and cash

  33. What next?

  34. What next? • Pensions office contacts • Prudential – www.pru.co.uk/uss • 0800 234 6913 • USS website – www.uss.co.uk • Slides available here • Pensions TV

  35. Your questions

  36. Pension increases

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