Monitoring USS Pension as a deferred member?

RSTime

I have semi-retired (59) and do not plan to start withdrawing my USS pension until next year. I left the scheme in 2016 with 30 years pension. I request an annual statement but the calculations are never shown. My last forecast was requested early this year and the calculation was based on a retirement date of 1st May 2022. Am I correct to assume that by next May the forecast should have gone up significantly due to index linking and one less actuarially reduced year? Can I reasonably ask for a calculation showing how the pension is determined? Frustrating that the pension value is not available online (as with TPS who seem to provide real time information).

NedS

You can use the USS online deferred pension increase modeller here:

https://www.ussbenefitmodeller.co.uk/deferred/pension_increase/

Contributions falling between certain dates are treated differently in terms of indexation and increases. You can see how different periods of service are treated here:

https://www.uss.co.uk/glossary#Glossary_USSstandardpensionincrease

But yes, you can expect to see a relatively large increase on 1st April, 2023, dictated by the CPI inflation figure for this September (to be announced on 19/10/2022).

If you take any of your benefits before the scheme NRA for those sections of contributions, they may be actuarially reduced. Again it depends on the periods of service.

17/5/1990 to 31/3/1995 NRA is 60 and will reduce if paid before 60

1/4/1995 to 30/9/2011 NRA is 65 but will only reduce if paid before 63 and a half

1/10/2011 onwards will reduce if paid before scheme NRA (I don't know what NRA here is as I left before 2011)