Following a recent consultation, the USS joint negotiating committee and Trustee Board have agreed that there will be a notable adjustment in monthly USS contributions.

From 1 January 2024, the confirmed reduction will see employee contributions decrease from 9.8% to 6.1%.

To illustrate the impact, for a member earning £45,000, this change translates to a monthly post-tax saving of approximately £111.

Also, from 1 April 2024, the rate at which benefits are accrued in the defined part of the USS, The Retirement Income Builder, will increase.

This change exclusively applies to staff members Grade 6 and above who are part of the USS pension scheme. All current active members have been emailed directly from USS about all the changes to the scheme, but further information can be found on the USS website.