To transfer or not to transfer (to USS) that is the question!

Many staff in the University who, by virtue of role analysis are newly eligible to enter the USS pension scheme have received their individual statements showing what the transfer rate from the University scheme (USPS) to USS would be. As expected the news is not good, with some reporting transfer rates as low as 30% – 45%. It is clear that in most cases a transfer of this nature is extremely detrimental to the individual and I see no logical reason to transfer on these grounds.

If staff are regraded at a later date into grades 6-10 or within 6-10 it is believed they will be required to transfer to the USS scheme. In other institutions a transfer on these grounds has been agreed to follow the transfer club rules and they will take with them the same number of years they had in their local scheme, but this has still to be confirmed at Stirling.

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