There are USS tax relief options. These were introduced to assist members who may have or are likely to have a Lifetime Allowance or Annual Allowance charge.
If, after weighing up the choices and USS options available, and after taking obtaining financial advice, it is concluded you need to choose one of the three options available from USS, you should proceed as follows:
Making an election for one of the USS tax relief options
An election form (separate form for each of the tax relief limits options) can be downloaded directly from the USS website, noting that USS requires 28 days notice in writing before the date of the election. All completed Election Forms should be sent to the Pensions Office, not to USS directly.
USS Money Purchase (Prudential) AVCs (MPAVCs), USS Investment Builder AVCs and USS match
If you currently pay these, you may wish to consider reducing or ceasing these payments if your benefits are or may become above the LTA. If you decide to reduce or cease your MPAVCs or discuss the level of contributions, you will need to contact Prudential directly - call the customer call centre on 0845 600 0343. To change your USS choices, log onto myUSS.
If, after considering the actions and options available to you, including those above, and it is identified you are likely to exceed the LTA limit, there are other options below to consider.