presentation for uss members colin busby and eifion morris apmi n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Presentation for USS members Colin Busby and Eifion Morris APMI PowerPoint Presentation
Download Presentation
Presentation for USS members Colin Busby and Eifion Morris APMI

Loading in 2 Seconds...

play fullscreen
1 / 47

Presentation for USS members Colin Busby and Eifion Morris APMI - PowerPoint PPT Presentation


  • 143 Views
  • Uploaded on

Presentation for USS members Colin Busby and Eifion Morris APMI. Your USS Journey.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

Presentation for USS members Colin Busby and Eifion Morris APMI


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
    Presentation Transcript
    1. Presentation for USS members Colin Busby and 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

    6. Part-time calculation 40 30 Salary £000s 20 10 3 years 10 years 10 years 5 years 100% 30% 100% 50% 40 10 20 30 Years

    7. What will I get? Full-time member Years’ service Pension as % of salary If salary was £40,000 with 30 years service benefits:- Pension of 30/80 X £40,000 = £15,000 pa PLUS Tax-free cash of 3 X Pension = £45,000

    8. How big will your pension be? Average service 32 years X 1/80th Average salary £42,000 pa Average pension £16,800 pa

    9. Getting more out of USS

    10. Put more in to get more out

    11. Help from the tax man

    12. Help from the tax man

    13. Added years modeller

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

    15. How to pay AVCs

    16. Tax relief allowances

    17. Tax allowances

    18. Annual Allowance

    19. Annual Allowance & Money Purchase AVCs

    20. Annual Allowance & Added Years

    21. Lifetime Allowance

    22. USS tax options

    23. Keep your house in order

    24. Transfers in to USS

    25. Benefits for your dependants

    26. Salary £50,000Pension at 65 £25,000

    27. Salary £50,000Pension at 65 £25,000

    28. What if you leave?

    29. Benefits on leaving

    30. Options after leaving

    31. When can you stop working?

    32. Normal retirement

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

    34. Early retirement

    35. Flexible retirement

    36. Incapacity retirement

    37. Varying pension and cash

    38. What next?

    39. What next? • Pensions office contacts • Prudential – www.pru.co.uk/uss • 0800 012 1262 • USS website – www.uss.co.uk • Slides available here • Pensions TV

    40. Your questions

    41. Pension increases

    42. Pensionable Salary

    43. Retirement 40000 X 193.5/193.5 = 40000 2 38889 X 193.5/188.6 = 39982 3 37612 X 193.5/182.6 = 39857 4 36501 X 193.5/177.9 = 39701 5 34914 X 193.5/174.3 = 38760 6 33327 X 193.5/171.6 = 37580 7 31740 X 193.5/166.5 = 36887 8 30153 X 193.5/164.5 = 35468 9 28566 X 193.5/159.5 = 34655 10 36500 X 193.5/153.8 = 45922 11 31740 X 193.5/149.8 = 41000 12 28566 X 193.5/145.2 = 38068 13 22218 X 193.5/141.8 30318 Pensionable salary calculation Year Salary RPI increase Revalued salary = 41663 Back