USS pension - do the DB figure now include the £215 plus £645 uplift?

What_time_is_it

I'm an active member of USS, currently working and paying into the scheme.
I see that the DB element of the scheme now has updated figures showing the annual and lump sum figures for the Investment Builder (as at 31st March 2024) and Final Salary (as at 1st April 2024).
Do these numbers include the additional £215 pa "backpayment" and the £645 uplift to the lump sum? Or does this still need to be added?

And how can we tell?!

ussdave

Short answer: Yes it does.

Longer answer: It was discussed here: https://forums.moneysavingexpert.com/discussion/6287299/uss-options-options-options-what-to-do#latest 

What_time_is_it

Brill. Thanks @ussdave

Simes122

ussdave said:

Short answer: Yes it does.

Longer answer: It was discussed here: https://forums.moneysavingexpert.com/discussion/6287299/uss-options-options-options-what-to-do#latest 

I think if it’s including the £215, it’s still using the new worse ERF factors though despite them being deferred till 1 Oct.  My pension and lump sum projections have gone down in spite of the catchup from the statement I had at end of March and can achieve now.  I’d think I’d be seeing sunshine and roses otherwise from +£215 effects, better lump sum and cpi uplifts.  I’m seeing im over a year worse off in accrual terms and my lump sum achievable is down by a couple, of k as well.   I believe due to the wrong factors being applied.  Would you concur?

FIREmenow

They didn't indicate that they were going to roll back the ERFs on the calculator when a few of us queried. 

It's difficult to test as different numbers of ERF years are applied to different, older parts of the scheme depending on normal pension age at the time.

BikingBud

USS = Utterly Shambolic System

I could use other terms but might get barred!

Trying to get any semblance of accurate information from them is impossible.

They have tied themselves in knots with the number of changes and deferments such that unless you have a PhD in excel and are able to calculate the trajectory of a satellite between Jupiter's moons you will not have any chance of unpicking what they have done and assure yourself that their provided numbers are correct.

Simes122

BikingBud said:

USS = Utterly Shambolic System

I could use other terms but might get barred!

Trying to get any semblance of accurate information from them is impossible.

They have tied themselves in knots with the number of changes and deferments such that unless you have a PhD in excel and are able to calculate the trajectory of a satellite between Jupiter's moons you will not have any chance of unpicking what they have done and assure yourself that their provided numbers are correct.

Essentially we have no real way of knowing if they are paying us incorrectly - brilliant!