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How could the proposed changes impact your benefits?

Watch our videos to find out how the JNC’s proposed changes could affect your pension, if implemented

The JNC has proposed a series of changes to the scheme – if they go ahead, they could impact the pension you’ll get when you retire.

Join Director of Engagement, Mel Duffield, as she talks you through the JNC’s proposals, what these would look like in practice if they go ahead following consultation, and why the changes have been proposed.

What do these changes mean for you?

Our short videos show how the proposed changes could affect you if they go ahead. They’re based on different salary bands, so watch the one that’s closest to your salary to see the impact on the pension you’ll get when you retire.

If you’re not up to speed on how your pension works now, we recommend having a look at our what you’ll get as a member page before watching these.

To watch these videos in full screen mode, press the play icon in the middle of the screen then select the four arrows icon bottom right of the video.

Don’t forget, when you’re thinking about what you’ll get when you retire, you’ll also need to consider other pensions/savings you may have and the State Pension, which currently pays £9,339.50 a year but could be more depending on your National Insurance record when you retire.

Want to have your say?

You’ll be able to find out more and have your say on the proposed changes during the employer consultation, which is planned to start in early November.

Assumptions

We've made a number of assumptions with these examples.

Important information

The content of this is for information only. It does not explain all situations or eventualities. It is not, and should not be taken as advice. It does not represent any promise or guarantee as to the amount of benefit that may be received and should not be relied upon to make a decision in relation to your USS benefits. We recommend that you speak to a financial adviser before making a decision in relation to your USS benefits. If there is any difference between this and the USS trust deed and rules, the latter shall prevail. Please check the website for the latest information regarding the scheme and any changes that may have occurred to its rules and benefits.

The assumptions we have made for the purposes of this were based on conditions at July 2021. These assumptions are not guarantees, as future conditions will change. As you review this information, please keep in mind that past performance is not necessarily a guide to future performance. The value of projected total pension benefits may go down as well as up and the return on investments is not guaranteed. The amount of pension payable will depend upon other considerations not listed (including, for example, the cost of buying an annuity at the time the pension becomes payable).


Republished: 14 October 2021

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