USS update: employer consultation now live
The Universities Superannuation Scheme’s (USS) employer consultation on the proposed increases to member and employer contributions, and the removal of the match, to address the 2017 valuation is now live and will run until 5pm on Friday 2 November.
As explained in the most recent member update, both employer and member contributions are proposed to increase (subject to any amendments from the consultation) to fund the current benefits offered to members. The first increase is proposed to take effect from 1 April 2019 and will see member contributions increase from 8% to 8.8%, followed by further increases from 1 October 2019 (to 10.4%) and 1 April 2020 (to 11.7%).
The consultation is your chance to have your say and provide feedback. Find out more about the valuation and the JEP here.
To read more about what you can do during the valuation, click here.