Changes to USS pensions from 1 April 2019
Cost sharing is a process under the USS rules that takes a view of the amount needed to restore the financial health of USS where there is no other agreed way forward and shares the increase in cost between employers (two thirds) and staff (one third). Find more information on the background to the cost sharing rule.
How will the changes to USS from 1 April 2019 affect you?
USS employee and employer contributions are due to increase with effect from the 1 April 2019 to 8.8% and 19.5% respectively. Additionally, the employer component of the 1% match will discontinue.
View guidance from USS on the potential impact on take-home pay from 1 April 2019 for: