USS & TPS: key features
This section provides information on the key features of USS and TPS, the two main pension schemes for higher education staff in the UK.
Allocation is an arrangement, only available in USS, whereby part of a member's pension is given up in order to enhance the pension of a spouse or dependant following the member's death.
Members of USS are advised to inform USS Ltd of the names of relatives, civil partners or others who they would wish to receive any lump sum on their death (otherwise known as making an 'expression of wish'); this may be done through the employer.
Pensionable earnings can include performance-related pay, profit-related pay, lump-sum payments made as part of the remuneration package, and certain payments in kind, such as warden accommodation in some institutions.
Payment of the TPS or USS pensions is not dependent on country of residence. In TP your pension can be paid direct into an overseas bank account in the majority of countries. In USS your pension needs to be paid into a UK bank.