The way you build up benefits in the Retirement Income Builder, the defined benefit part of USS, and savings in the Investment Builder, the defined contribution part, is changing from 1 April 2022.
The changes follow recommendations from the Joint Negotiating Committee (JNC) about how benefits should change in the future and the statutory employer consultation with affected members and representatives on the proposed changes. The JNC’s recommendations have now been approved by the trustee board. It’s important you understand how they’ll affect your USS pension in the future.
To help you get to grips with these changes, we’ve tailored the information based on your salary and whether you already have Investment Builder savings or not. This’ll help you understand what the changes mean to you and what you need to do next.
Just so you know, benefits built up before 1 April 2022 will remain unchanged.