If you retire at the Normal Pension Age, you can take your Retirement Income Builder benefits and Investment Builder savings in full together.

The Normal Pension Age will rise in line with increases to the State Pension age.

The earliest you can take your benefits and savings is age 55 (rising to 57 in 2028). You can take your Retirement Income Builder benefits and Investment Builder savings in full together, but your benefits from the Retirement Income Builder will be reduced as they’ll need to last for longer.

This same reduction won’t be applied to your Investment Builder savings.

In some cases you may be able to take unreduced pension from age 60 – check with your employer (or with us if you’re no longer paying in to USS).

You can retire later and continue to pay in to USS. You can take your Retirement Income Builder benefits and Investment Builder savings in full together – your Retirement Income Builder pension built up at the Normal Pension Age will be increased for each month it’s delayed. You can also choose not to contribute any more.

This same increase won’t be applied to your Investment Builder savings.

If you’ve left a USS employer or opted out of USS there won’t be an increase to your pension – your benefits will be backdated to the Normal Pension Age and paid at once, rather than increased monthly.