How does the 2017 valuation affect my contributions?
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 contributions||From 1 April 2019||From 1 October 2019||From 1 April 2020|
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]