USS v LGPS

NickBFS

Elf40 said:

Thank you for all the information so far. He is already in the LGPS but this email says:

You are receiving this message because you are eligible to join the USS Pension Scheme but have opted not to do so.

Following the 2023 valuation, USS benefits are changing.

As a result, if you re-join before 1 April 2024, you’ll receive a one-off uplift to the annual pension you’ll get in retirement of £215 a year and an associated £645 retirement lump sum.

Member contributions for the scheme have also reduced since 1 January 2024 and from 1 April 2024 the rate at which members build up defined benefits in the Retirement Income Builder will increase.

There is no obligation to join the scheme, but we felt it important that you were aware of these positive changes.

You need to clarify whether the choice is between accruing further in LGPS or starting to accrue in USS or whether the choice is between accruing in USS or nothing at all. In other words, it needs to be checked whether the new post still allows for LGPS accrual. If it does, then, as others have said, it is a no-brainer: stay in LGPS. If not, however, then joining USS would be a no-brainer..

Universidad

Southend_2 said:

I would be surprised if he has the choice to stay in LGPS, so it is probably a moot point. 

I am aware of at least some cases in which staff in HE on reaching grades typically associated with USS were allowed to stay in their previous scheme.
But I don't have any details on why this has been possible for those people or whether those circumstances might still exist.
It's absolutely the case that this must be clarified ASAP! 

ussdave

Agreed re seeking clarification.

I can add to the confusion by stating that at the institution I work at you can remain in the non-USS scheme (and still accrue pension benefits) when you advance to a position that would normally involve it.  In this case it isn't LGPS involved though so I certainly wouldn't base any assumptions on that statement.

Elf40

Thanks everyone. He is obviously going to need to ask questions on Monday for clarification and do something about it quickly. Appreciate everyone taking time to reply.