USS or Civil Service Alpha?

kermchem

When you have calculated your accrued pension USS will add a lump sum of 3x the annual pension. No lump sum in alpha (there is in the older CS schemes like Classic)

Cornish_mum

Also do remember that USS is not a public sector pension but a completely private scheme, and it operates as such. 

Alpha is far better and ending one’s career in the civil service is a dream of many an academic! 

Suzycoll

NewWorldTempo said:

Hi all,
Currently looking at a role which offers a USS pension. I am currently a civil servant and pay into the Alpha scheme. In the past, I was under the assumption that USS was a very good pension but, reading into it, it doesn't look all that great compared to the Alpha scheme.

I believe USS has a contribution rate of 6.1%, while Alpha is 5.45%. The accrual rate for Alpha is 2.32% of your salary and the USS is roughly 1.33% (1/75th of your salary). 

I realise there will be other details to consider such as death benefits for spouse etc but, on the basics, am I missing something?

Thanks! 

I'm unable to comment on USS. 
I'm in Alpha & my pension is dire. Although that's down to working mostly part time at a low grade on a dire wage. However, I recognize that Alpha is a good scheme

I'm just commenting to say that in general most  civil servants wages are  not brilliant. 

I guess it's down to your age & how much your wage would increase in a new 'private' job ?
Good luck