When you retire it is likely to be one of the most important financial decisions you will make.  Knowing that your financial plans are in order and in line with your expectations can give you valuable peace of mind.  Having a clear picture of your current financial situation and knowing you’re not paying more tax than you need to are key to this.  To assist you, the College regularly run a series of workshops available to all staff to assist with their financial planning.

Upcoming workshops

Understanding your finances is a key part of planning for your future and these sessions aim to help you understand what you have and what you can do to provide better outcomes for you and your family.

Foundation in Personal Financial Planning

This session focuses on helping you understand and take control of your daily finances.  It covers the basics of budgeting, taxation, borrowing, mortgages, and savings.  By understanding the basics, we can learn how to cope with a financial shock, understand how we can financially plan for our life choices, and help build greater clarity and security.

Pensions and investing for growth

This session focuses on helping you grow your savings and plan for the future.  It covers why you might decide to take the risk of investing; how to make the most of tax advantages; and cover the basics of investment and pensions. 

Pre-Retirement Workshop

This workshop takes a positive look at the changes that occur when you move from employment to retirement and should give you the confidence to look forward to a well-managed retirement.  

Key areas that will be covered include:

• Your college pension
• Flexible retirement options and part-time working
• The State pension
• How to save more for retirement
• Investments
• Taxation
• Estate planning and inheritance
• Long term care costs
• Life after work

This workshop will be particularly relevant if you are planning to retire within the next two years, as information and advice changes regularly. If this does not apply to you, the Financial Awareness session will be more relevant. 

This workshop is run in two parts.

Part One: Financial planning for your retirement (3 hours)

This event focuses on planning your finances for retirement.  The session will provide an overview of your USS & SAUL occupational pensions and the changes to these schemes. 

This session will help you understand the different types of pension plans you may have and relevant taxes; we share planning tips for retirement and beyond; and look at the importance of Wills and Power of Attorney.   We look at investments and the role of risk in combating inflation, and making your money last for your lifetime.

Your partners are welcome too, as you have important choices ahead that you will want to plan together.

Part Two: Planning your retirement lifestyle (2.5 hours)

This session is focused on helping you make the most of your freedom in retirement.  We focus on the social and emotional impacts rather than the financial.

Your partners are welcome too, as you have important choices ahead that you will want to plan together.

NHS Pension Scheme events

The NHS runs free events for their members:

Understanding the NHS Pension Scheme and its benefits 

These sessions aim to improve understanding about how the Scheme works, who can join and the benefits accessible to members. 

Your Total Reward Statement and Annual Benefit Statement explained

These sessions will inform members about what their Annual Benefit Statement and Total Reward Statement is, as well as how to access and understand it.

Your retirement options explained

These sessions provide information about retirement options (i.e., eligibility for taking a lump sum) in order to assist future planning.

 See all upcoming events, and enroll via the NHS Members events website

USS Pension Scheme events

The USS also run free member webinars on various matters:

About USS

These sessions provide helpful information for those considering joining, including the benefits, what you pay, and retirement options for you.

New to USS

These sessions cover information about USS, as well as what your membership gives you, further details about your benefits, as well as what happens if you leave USS. 

Planning for retirement

These sessions consider retirement options for members, including how your benefits accumulate, when you can access these and in what form. It would be particularly useful for those planning for or thinking about retirement.

Understanding DC (the Investment Builder)

These sessions look at the key features of the Investment Builder, including how you can build savings and how you can take your Investment Builder savings. It would be useful for those who have recently started saving in the Investment Builder, or who already are and would like to know more.

Focus on pension tax

These sessions focus on pension tax, including Annual Allowance, Tapered Annual Allowance, MPAA and Lifetime Allowance, and managing tax. They also cover USS specific tax mitigation options

Leaving USS

These sessions cover topics useful for those who have left, or are considering leaving USS, ahead of their retirement.

See all upcoming events, and enroll via the USS Guidance webinars website