Last chance to join the Final Salary section of UMSS
12 Mar 2012
Applications must be received in the Pensions Office by 30 March 2012.
One of the changes agreed in the recent consultation is the closure of the Final Salary section to new members after 31 March 2012. Existing members will continue with their membership on the modified final salary basis. After 31 March 2012, all new members will earn benefits in the CARE (Career Average Revalued Earnings) section.
If you have previously opted out of membership of UMSS, or did not join when first eligible, you may still apply to become a member. UMSS members are predominantly drawn from staff in grades 1-5. If you wish to join the Final Salary section, your application must reach the Pensions Office in John Owens Building no later than Friday 30 March 2012.
The UMSS Late Joiner Form is available on request from the Pensions Office or can be downloaded from StaffNet:
- UMSS Late Joiner Form (PDF, KB)
Contribution increase
On 1 April 2012:
- the employee contribution rate for all members of the Final Salary section increases to 7% of pensionable earnings, and
- the employee contribution rate for the CARE section will be 6.5% of pensionable earnings.
For further information about the agreed changes to UMSS, please see:
Pensions Office
umsschanges@manchester.ac.uk