USS / Changes to the USS Pension Scheme
This area of the website has been designed to give you easy access to information about proposed changes to the USS pension scheme intended to address the scheme’s deficit and the anticipated rise in the cost of future pensions. Having a clear understanding what changes are proposed to the USS is important to your future financial planning and your ability to influence what happens next.
On 23 January 2018, the Joint Negotiating Committee (JNC), which involves employers and UCU, issued the final proposal for reform to USS. A formal employer consultation process with scheme members and affected staff is scheduled to start on 19 March 2018. These pages will continue to be updated as more information is received
Whatever your views on the proposed changes, it is important to remember that your accrued pension (the pension you have built up prior to any future changes in USS pension provision) is protected under law and will not be affected by any future changes to the Scheme
A number of information sessions for staff were commissioned from Willis Towers Watson during December 2017 and January 2018 to provide background information and help members to understand the need for scheme change, the main issues as highlighted by the parties, the constraints and the potential options for change. These sessions were not part of the formal consultation process but an opportunity to get to grips with the issues early so that consultation can be more meaningful. A copy of the slides can be found under the University Events and briefings tab.
Further presentations and briefings will be organised about the proposal once the formal consultation process begins.