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Your pension is getting a boost

The 2023 valuation - an uplift to benefits

Your Statutory Notice of changes to USS

This April you’ll receive a one-off uplift to your Retirement Income Builder benefits. This uplift will give you an extra £108 in annual pension. Like your existing Retirement Income Builder benefits, it will also be subject to USS standard pension increases.

You’re receiving this uplift following recommendations from the Joint Negotiating Committee (JNC) in response to the 2023 valuation that benefits built up in respect of eligible members between 1 April 2022 and 31 March 2024 should be increased.

This uplift is in addition to your pension being increased in April (our Payroll team will write to you separately about this).

There are a number of other changes happening in how members will build benefits in the future, but these changes won’t affect you. You can read more about them on our dedicated page.