Query on USS flexible retirement

Nick_Dr1

I have a question about the USS flex option. The website appears to be quite vague on what you can actually take.

So for example, if I decide to flex, I can take a percentage of my pension, lets say 50%.

My specific query revolves around the treatment of the tax free lump sum.

Currently if I take all of my benefits in one go, I can get the whole of the DC part as a lump sum as well as the DB lump sum (3 x pensionable salary) + whatever the DB regular part is. This is according to the modeller.

If I flex at say 50%, I am assuming I can take 50% of the DB benefit ie half the regular payment and 3x that lump sum, and 50% of the DC pot, leaving half of both pensions still invested.

If later I then take the rest of it, could I still get all the remaining DC pot as TFLS, or will it fall into the 25% of it is tax free and the other 75% is taxable category?

Hope that's clear!

Cobbler_tone

I think there will be a steady flow of USS enquiries. It seems student numbers are plummeting and universities are offering voluntary severance packages (they hate the word ‘redundancy’) all over the country.
The OU in MK seems to have one programme after the other.

Little tip as uni’s can be notoriously vague in their approach. Put in FOI request in for the HR1 to get an idea on numbers.