Since 2011, university staff’s USS pension has effectively been cut by £240,000. Pensions are not a gift from our employers: university staff earned every penny. In the latest cycle of this damaging dispute, employers are proposing further cuts – amounting to 35% – to staff’s guaranteed pension.
UCU put forward counter-proposals, but employers are refusing to engage. Combined with the fact that, since 2009, staff pay has been cut by nearly 20% in real terms, we are not only losing our dignity at work, but also our dignity in retirement.
Reports
- Modelling of UUK’s proposed USS benefit changes from Aon Hewitt Retirement and Investment (PDF)
- Report for UCU: A comparison of TPS with USS with and without a salary threshold from First Actuarial (PDF)
Modellers
- UUK pension change modeller by the UCU
- USS pensions by Neil Davies, Gibran Hemani, and Gareth Griffith
- USS pension reform: the equivalent pay cut by Gábor Csányi
- Benefit Illustrator (non-login version) by USS
