Changes to USS pension
25 Feb 2022
Clarification of effect on member pensions
Our University has received some correspondence from members of the Universities Superannuation Scheme worried about the scale of the reduction in their future pension as a result of the recently agreed changes to the scheme.
While some have been quoting a figure as high as 50%, this is not the case and most members will see a change of between 10% and 18%.
This is of course regrettable, but changes are needed to make sure the USS remains sustainable and to avoid severe contribution increases which would hit universities and members, as well as causing people to leave or not join the scheme.
USS has published a series of personas so that members can work out what the changes mean for them.
We have also continued to publish detailed updates on our site.
- If you have concerns you can talk to our Pensions Team at pensions@manchester.ac.uk.