USS have confirmed that the 2017 valuation, which was finalised before consideration of the recommendations of phase 1 of the Joint Expert Panel, is now closed and has been submitted to the Pensions Regulator. All members will receive a letter from USS confirming this and sharing a link to the Summary Funding Statement during March. Access the letter now [pdf]

Under the 2017 valuation the employer and employee contributions will increase as follows:

 Current contributionsFrom 1 April 2019From 1 October 2019From 1 April 2020
Member rate 8% 8.8% 10.4% 11.4%
Employer rate 18% 19.5% 22.5%  24.2%
Summary of the table's contents

We hope a solution will be found through the 2018 valuation consultation to avoid the significant increase in employer and employee contributions in October 2019.   

We have created a modeller so you can see the effect that the planned and proposed contribution changes would have on your own contributions and take-home pay. Download the 2019 consultation modeller [Excel]