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:

• Higher pensions contributions avoided after USS Trustee accepts employer plans for reforms

USS statement:

• The 2020 Valuation

Further updates will be published on StaffNet.

Further information

For further information you can read a glossary of terms or visit:

• StaffNet USS Pensions changes
• USS Members | Facebook