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From its inception, USS was the main pension scheme for UK academics and senior administrative staff of universities and similar higher-education or research institutions. [5] This predominance was lessened, however, when the Further and Higher Education Act 1992 created numerous ' new universities ', whose employees (old and new) remained in ...
The Universities Superannuation Scheme was created in 1974 to provide sector-wide pensions for UK university staff (focusing on academic staff). [19] Its terms changed little until 2011, when major reforms were implemented, followed by further changes in 2014–15.
Occupational pension schemes also flourished after the Second World War, with pensions becoming a key tool to attract and retain staff. [6] In the second half of the 20th century, there was a succession of legislative changes to protect pension scheme members, prevent abuse of the generous tax-reliefs available and prevent fraudulent activity.
The Local Government Superannuation (Amendment) Regulations 1979 S.I. 1979/2 [2] The Petrol Prices (Display) (Amendment) Order 1979 S.I. 1979/4 [3] The Civil Aviation (Air Travel Organisers' Licensing) (Third Amendment) Regulations 1979 S.I. 1979/5 [4] The Social Security (Contributions, Re-rating) Consequential Amendment Regulations 1979 S.I ...
In 2018, members took part in strike action in February and March in a dispute with Universities UK (UUK) over the Universities Superannuation Scheme (USS). [18] In 2019, members took part in strike action in November and December in another dispute with the UUK over the pension scheme and with the UCEA over pay, workload, equality, and ...
McGaughey and Davies v Universities Superannuation Scheme Ltd and Directors [2023] EWCA Civ 873 is a UK company law, climate litigation, and pension law case, seeking permission for a derivative claim to enforce duties of the directors of the UK university pension fund, USS Ltd. The case was first to sue for directors of a major UK corporation ...
The Pensions Ombudsman is the official ombudsman institution responsible for investigating complaints regarding pensions in the United Kingdom.The Pensions Ombudsman is a non-departmental public body stewarded by the Department for Work and Pensions, and the Ombudsman and Deputy Ombudsman are appointed by the Secretary of State for Work and Pensions.
The State Pension is an existing welfare benefit that forms part of the United Kingdom Government's pension arrangements. Benefits vary depending on the age of the individual and their contribution record. Currently anyone can make a claim, provided they have a minimum number of qualifying years of contributions.