NEW: UniversititIes UK, the employer body for the UK university sector, said “We have not made misleading claims" about the impact of April 2022 pension cuts on members of the #USS.
UUK:"It's reasonable for us to conclude in headline terms - using the example personas developed by USS – that reductions in retirement benefits will be in range of 10-18%. We've consistently said members should use the USS modeller to check (their specific) possible impacts."
UUK says using a headline of 35 per cent cuts to #USS members' pensions - from the April 2022 benefit reforms - is potentially misleading and potentially damaging to members.
UUK is keen to explore a move to conditional benefits for the #DB element of the #USS scheme. This could means inflation rises would not be hard-wired but conditional on scheme investment performance.
This may come into play for the next valuation, in my view.
This may come into play for the next valuation, in my view.
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