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Should you join or re-join USS?

Changes to USS pension benefits

As a result of the 2023 valuation, USS benefits are changing

Contributions have reduced since 1 January 2024 and from 1 April 2024 there is a one-off benefit uplift for eligible members and benefit changes, including an increase in the rate at which you build defined benefits in the Retirement Income Builder.

Read more about what’s changing and when and watch the video examples which show how the benefit changes might impact you, if you start paying in. Select the video example that fits your circumstances best.

Reflecting the JNC's proposed package of benefit and contribution rate, here's what's changing and when. This is subject to the formal processes to implement the scheme changes.

Summary of changes

Watch the short videos to see how changes could impact you, if you decide to re-join and start paying in to USS again. They’re based on different salary bands, so watch the one that’s closest to your salary to see the impact on what you would pay and the pension you would get when you retire.


Important information

*The AVCs figures suggested in the examples are for illustration purposes only not a suggestion of what you should contribute. To see how an AVC amount of your choice could impact your retirement savings use the Benefit Calculator in My USS.

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 membership and/or your retirement. We recommend that you speak to a financial adviser before making a decision or refraining from making decisions in relation to your USS membership/benefits. If there is any difference between this publication and the USS trust deed and rules (as amended from time to time), 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, which are subject at all times to the overriding USS trust deed and rules (as amended from time to time).

The assumptions we have made for the purposes of this were based on conditions at 1 January 2024 and the scheme changes coming into effect on the 1 April 2024. 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 projected value of the defined contribution (DC) savings may go down as well as up and the return on investments is not guaranteed.

Published: 22 January 2024

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