USS Pensions Consultation Guidance

As you will know, in 2014 the employers proposed several changes to the USS pension scheme.After negotiations, some industrial action, and as a result further negotiations, an agreed schedule of changes is being put to scheme members, and those eligible to be members. We are now within a legally-required period of consultation which ends on May 22nd. I’d counsel against simply shrugging shoulders and figuring “this is a done deal”. During a similar period when the local pension scheme was changed, unions promoted an organised response and gained significant changes during the consultation. I won’t pretend that we could get everything repealed and return to a Final Salary scheme for all, but even at this late stage, significant alterations remain possible, and potentially thousands of Pounds of future income for all of us are riding on this. Continue reading