Disclaimer
Please note that the calculator is intended to represent an estimate only - it does not represent any form of guarantee or entitlement to a particular benefit.
Your benefits will always be calculated in accordance with the Trust Deed and Rules of Universities Superannuation Scheme in force at the applicable time (“USS Rules”) and any overriding legislation. In the event of any inconsistency between the calculator and the USS Rules the USS Rules shall prevail.
You should not rely on this calculator when making decisions relating to USS. We strongly recommend that you take financial advice before making any decisions in relation to your pension. You can find further information about financial advice on our guidance and financial advice page. Please note that you may be charged a fee for any advice. You can also access guidance support, or if you want advice, find a financial adviser through MoneyHelper (moneyhelper.org.uk), which brings three government-backed financial guidance providers into one (Money Advice Service, The Pensions Advisory Service and Pension Wise). MoneyHelper is there to make your money and pension choices clearer. They offer impartial guidance that's backed by the government and free to use.
For the avoidance of any doubt, the calculator is not intended to constitute or provide you with financial advice. You should take any professional advice that you feel you need to understand the options available to you.
Neither Universities Superannuation Scheme Limited nor any of their officers or employees accept any responsibility or liability for any loss, damage or inconvenience caused by action taken (or a decision not to take action) as a result of information provided by this calculator. We reserve the right to change any part of these terms and conditions and/or the disclaimers/assumptions without notice and your use of this calculator will be deemed as acceptance of these terms and the disclaimers/assumptions (and any updates to them). Members should regularly check the terms and conditions and disclaimers/assumptions. We have complete discretion to modify any part of this calculator or remove it in its entirety without warning or liability arising from such an action.
Any dissemination, forwarding or copying of any part of this calculator is strictly prohibited and may be unlawful.
Exceptions
The calculator does not reflect some complexities which affect a restricted number of members. These are listed below. If you are affected by any of these categories, then the calculator may not properly reflect your current or potential future benefits.
- Allocation - If you have used allocation to give part of your Retirement Income Builder pension to your beneficiaries as an additional income when you die, the calculator will not account for the deduction in your projection and it will not be accurate.
- Deferred members over their Normal Pension Age – If you are a deferred member and have not taken your benefits at your Normal Pension Age, the output from the calculator will not be accurate if it is used to produce a projection. You should request a retirement quote from USS and select “Use your Retirement quote” on the Benefit Calculator to explore your options.
- Divorce earmarking orders - If you have an earmarking order relating to divorce on your record it will not be accounted for in your projection and any output from the calculator will not be accurate.
- Historic mergers – If you have deferred benefits as a result of a previous merger with USS (i.e. OUSS, AUT, Henley Management College or EUSA), then these deferred benefits will not be shown in the results.
- NHS transfers– The calculator assumes that any benefits built up before 1 October 2011 are payable unreduced from age 60. If you transferred in previous NHS benefits you may (depending on your NHS category) be able to take your benefits unreduced from an earlier age than 60, in which case you should disregard the results shown for retirement ages earlier than age 60.
- Lifetime Allowance Protection – If you have a protected Lifetime Allowance this will not be accounted for in the calculator, and any warnings or references relating to the Lifetime Allowance may not be applicable to your specific situation.
- Setting a retirement age younger than current age – In some cases you may be able to set a retirement age that is younger than your current age. If you do this the output from the calculator will not be accurate.
- Variable time employees – The calculator will assume that your annual salary figure entered is payable in equal monthly amounts across each year. If the salary from your variable time employment varies from month to month, then your benefits may differ from the results shown, and you should therefore disregard the results as they will be incorrect.
