USS pensions update
09 Sep 2021
USS Trustee agrees to proceed with the employers’ proposals for concluding the 2020 USS valuation
The USS Trustee has agreed to proceed with the employers’ proposals for concluding the 2020 USS valuation.
This means that the substantial increases timetabled for 1 October 2021, and April 2022, are now off the table – and the 2020 valuation will be concluded with a total combined rate of 31.2%, which is an increase over the current rate and will mean that members’ contributions will rise to 9.8% and employers’ to 21.4%. Universities UK (UUK) are consulting with employers over this small increase.
There will be a 60-day consultation on the employer proposal which gives affected employees and their representatives the opportunity to provide feedback on the proposals.
USS Employers statement:
Further updates will be published on StaffNet.
For further information you can read a glossary of terms or visit: