USS - General discussion

swindiff

If I added 3.8% to my projection at 60 that would put me back pretty much to the pound where it was before April.

13FL

Asimovs_nightfall said:

uss_hamish said:

There is now an item on Member Voice about this, but it didn't have any responses when I looked. Maybe we should add some...

I believe the Member Voice is panel based so do inform us if any news.  

Related, I've just had my quote and it differs by 3.8% to the model (standard option).

I should have added, quote is 3.8% higher.

Thanks for the update, interesting to know.  I have just requested my quote, so feel slightly happier if this is par for the course.

Asimovs_nightfall

swindiff said:

If I added 3.8% to my projection at 60 that would put me back pretty much to the pound where it was before April.

Not too far off with me either, but doesn't answer the concern over the modeller.

Micrographia

Asimovs_nightfall said:

uss_hamish said:

There is now an item on Member Voice about this, but it didn't have any responses when I looked. Maybe we should add some...

I believe the Member Voice is panel based so do inform us if any news.  

Related, I've just had my quote and it differs by 3.8% to the model (standard option).

I should have added, quote is 3.8% higher.

It's described as panel-based but as far as I'm aware USS members can join. Been suggested that the 24/25 accrual hasn't been added to the modeller yet but will be by end April.

ussdave

Micrographia said:

Asimovs_nightfall said:

uss_hamish said:

There is now an item on Member Voice about this, but it didn't have any responses when I looked. Maybe we should add some...

I believe the Member Voice is panel based so do inform us if any news.  

Related, I've just had my quote and it differs by 3.8% to the model (standard option).

I should have added, quote is 3.8% higher.

It's described as panel-based but as far as I'm aware USS members can join. Been suggested that the 24/25 accrual hasn't been added to the modeller yet but will be by end April.

Normally the previous year accrual isn't added until much later in the year.  Normally around September or October iirc. It'd be great if that's changed, of course.

Barralad77

ussdave said:

Micrographia said:

Asimovs_nightfall said:

uss_hamish said:

There is now an item on Member Voice about this, but it didn't have any responses when I looked. Maybe we should add some...

I believe the Member Voice is panel based so do inform us if any news.  

Related, I've just had my quote and it differs by 3.8% to the model (standard option).

I should have added, quote is 3.8% higher.

It's described as panel-based but as far as I'm aware USS members can join. Been suggested that the 24/25 accrual hasn't been added to the modeller yet but will be by end April.

Normally the previous year accrual isn't added until much later in the year.  Normally around September or October iirc. It'd be great if that's changed, of course.

I, too, hope this is correct. But if it is, then adding the 24-25 accrual will only bring my projection up to (close to) what it was back in March. From which I can only conclude that in March the modeller was factoring in the 24-25 accrual but on April 1st that was ‘removed’ from the calculations and will be added back in sometime this year (April or September, or sometime in between). Or am I missing something?

Micrographia

ussdave said:

Micrographia said:

Asimovs_nightfall said:

uss_hamish said:

There is now an item on Member Voice about this, but it didn't have any responses when I looked. Maybe we should add some...

I believe the Member Voice is panel based so do inform us if any news.  

Related, I've just had my quote and it differs by 3.8% to the model (standard option).

I should have added, quote is 3.8% higher.

It's described as panel-based but as far as I'm aware USS members can join. Been suggested that the 24/25 accrual hasn't been added to the modeller yet but will be by end April.

Normally the previous year accrual isn't added until much later in the year.  Normally around September or October iirc. It'd be great if that's changed, of course.

The DB number on the MyUSS Summary page gets updated with the arrival of the Annual Statement, but I think the modeller works differently - there is this on the Summary page;

"Please note: Your Retirement Income Builder will be updated to the current year figures when you receive your Annual Member Statement each autumn. You can use our Benefit Calculator in the meantime."

I imagine it has to work like this since it would be a very poor modeller if the predicted contribution from the DB section was out of date for 6 months of every year . No idea why the number on the Summary page can't be updated earlier though. Perhaps it needs to be formally confirmed since it is more of a binding promise, whereas the figures produced by the modeller very definitely are not?

Micrographia

Barralad77 said:

ussdave said:

Micrographia said:

Asimovs_nightfall said:

uss_hamish said:

There is now an item on Member Voice about this, but it didn't have any responses when I looked. Maybe we should add some...

I believe the Member Voice is panel based so do inform us if any news.  

Related, I've just had my quote and it differs by 3.8% to the model (standard option).

I should have added, quote is 3.8% higher.

It's described as panel-based but as far as I'm aware USS members can join. Been suggested that the 24/25 accrual hasn't been added to the modeller yet but will be by end April.

Normally the previous year accrual isn't added until much later in the year.  Normally around September or October iirc. It'd be great if that's changed, of course.

I, too, hope this is correct. But if it is, then adding the 24-25 accrual will only bring my projection up to (close to) what it was back in March. From which I can only conclude that in March the modeller was factoring in the 24-25 accrual but on April 1st that was ‘removed’ from the calculations and will be added back in sometime this year (April or September, or sometime in between). Or am I missing something?

Hopefully we will find out within a week or so. Been a number of pleas on Member Voice for better comms around issues like this in general, and the opacity of the modeller in particular. 

ussdave

Micrographia said:

ussdave said:

Micrographia said:

Asimovs_nightfall said:

uss_hamish said:

There is now an item on Member Voice about this, but it didn't have any responses when I looked. Maybe we should add some...

I believe the Member Voice is panel based so do inform us if any news.  

Related, I've just had my quote and it differs by 3.8% to the model (standard option).

I should have added, quote is 3.8% higher.

It's described as panel-based but as far as I'm aware USS members can join. Been suggested that the 24/25 accrual hasn't been added to the modeller yet but will be by end April.

Normally the previous year accrual isn't added until much later in the year.  Normally around September or October iirc. It'd be great if that's changed, of course.

The DB number on the MyUSS Summary page gets updated with the arrival of the Annual Statement, but I think the modeller works differently - there is this on the Summary page;

"Please note: Your Retirement Income Builder will be updated to the current year figures when you receive your Annual Member Statement each autumn. You can use our Benefit Calculator in the meantime."

I imagine it has to work like this since it would be a very poor modeller if the predicted contribution from the DB section was out of date for 6 months of every year . No idea why the number on the Summary page can't be updated earlier though. Perhaps it needs to be formally confirmed since it is more of a binding promise, whereas the figures produced by the modeller very definitely are not?

Interesting.  And fair point regarding the modeller/calculator.

Barralad77

They’ve now updated the Final Salary element to 31/03/25 (increased it by the 1.7%).