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Durham University

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    Lectures and Seminars

Important pension information sessions for USS members

(6 September 2019)

We have invited Mercer, independent specialists in HE sector pensions, to deliver information sessions on two important aspects of pension planning: an update on the latest developments in the USS Valuation and what this may mean to members and an information session for higher earners (c£65K plus) on Pensions Taxation Allowances. These sessions are open to all current and prospective USS members and will take place on 11 and 26 September. If you wish to attend please use the online training booking system to book your place. Spaces are first come first served based on room capacity. If you have any questions, please email reward.team@durham.ac.uk.

Latest Developments in the USS Valuation Process

11 and 26 September, 9.30am-11am and 2pm-3.30pm on both days

The purpose of this session is to help members of the USS pension scheme understand the current valuation position for USS:

  • Overview of USS benefits
  • The situation (2017 valuation, discussions, parties involved)
  • Joint Expert Panel - phase 1 contribution changes following the 2017 valuation
  • 2018 Valuation
  • Joint Expert Panel - phase 2
  • What happens next?

Information for Higher Earners: Pensions Taxation Allowances

11 and 26 September, 11.30am-1pm on both days

The purpose of this session is to explain the impact of the 2016 changes to the pensions taxation allowances: the Annual Allowance and the Lifetime Allowance.

For the 2019/20 tax year, the Annual Allowance may impact on anyone with taxable earnings (from all sources - not just University salary) in excess of £110k.

The Lifetime Allowance for 2019-20 is £1.055m. If you have an expectation of an annual pension income in excess of around £40,000 or over from all of the pension schemes you have membership of (excluding the State Pension), this session will make you aware of how the value of your pension benefits is calculated for LTA purposes.

Have something to include?

Please liaise with the designated contact for your department or college. For further guidance, email dialogue@durham.ac.uk

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