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Universities Superannuation Scheme (PO-13688)

Complainant: Dr R
Complaint Topic: Breach of trust
Ref: PO-13688
Outcome: Not upheld
Respondent: Universities Superannuation Scheme Limited
Type: Pension complaint or dispute
Date:

Ombudsman’s Determination

Outcome

I do not uphold Dr R’s complaint and no further action is required by Universities Superannuation Scheme Limited

My reasons for reaching this decision are explained in more detail below.

Complaint summary

Dr R has made the following complaints about USS:

USS has breached an Additional Voluntary Contributions (AVC) added years’ benefits contract which was to secure final salary benefits equivalent to four years’ service.

USS has breached Scheme Rules 76.2 and 76.7.1 by retrospectively changing the AVC contract, and by prejudicing members with salary increases above indexing compared to those with salary increases below and in line with indexing after 31 March 2016.

USS has misrepresented the AVC added years benefits in factsheets, sales presentations to members and their online website, as they all made reference to final salary benefits.

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