You do not lose your pension benefits when you leave the University.

Your scheme will write to you with your leaver's options within two months of you leaving: it is very important that the Pensions Office has a contact address so that you can receive your information promptly.

If you are moving to another University, please let the Pensions Office know so that the correct forms can be completed.

If you leave any of the University schemes, your options will depend on your length of membership:

Under two years and no transfer from a previous scheme

Refund of contributions

(subject to participation in Pension Plus)

USS Members

If a valid 'Notice to opt out of pension savings' is received within 3 months of joining the scheme any pension contributions you have made will be refunded.

Refunds after 3 months have lapsed are only possible if you have less than 2 years' service in the scheme and you do not participate in Pensions Plus (salary sacrifice).

For more information please refer to the USS factsheet – Options on Leaving

UoDSS Members

If a valid 'Notice to opt out of pension savings' is received within 3 months of joining the scheme any pension contributions you have made will be refunded.

Refunds after 3 months have lapsed are only possible if you have less than 2 years' service in the scheme and you do not participate in Pensions Plus (salary sacrifice). However, if you participate in Pensions Plus, have less than 2 years' service and opt for a 'refund', the University will make an ex-gratia payment to you instead. The ex-gratia payment will be equivalent to the refund you would have received had you not participated in Pensions Plus. 

For more information please refer to:

Deferred Benefits

The Scheme will calculate your benefits as per the scheme rules at the date of leaving. These benefits will then be index linked according to the scheme rules and will be paid out to you at the normal retirement age.

Over two years or after a transfer in

Deferred Benefits (leaving it in the scheme)

The Scheme will calculate your benefits as per the scheme rules at the date of leaving. These benefits will then be index linked according to the scheme rules and will be paid out to you at the normal retirement age.

Transfer to another occupational scheme

You should ask your new scheme to investigate a transfer from your Dundee Scheme.

Your transfer value will be calculated so that it is at least the "cash equivalent" of the benefits that are preserved in the scheme unless your new scheme is in the Public Sector Transfer Club when special transfer arrangements may apply.

Transfer to a private policy

If your new scheme will not allow a transfer, and you still want to take your benefits out of your University scheme, you can transfer to a Section 32 Buy Out policy with an insurance company. An independent financial adviser should help you organise this option.

For more information please refer to: