According to modelling prepared for #UCU by First Actuarial, a typical #USS member will pay around £40,000 more in to their pension, but receive almost £200,000 less in retirement leaving them £240,000 worse off in total.
The modelling is based on changes since 2011.
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In response, Universities UK, which represents university employers, said compared with 2011, employers were now paying more than £400 million extra per year into the USS – with their contributions rising 16% to 21.1% of salary from October 2019.
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What's the comparator? If they're 240k worse off out of 100m of benefits, it's not too bad.... If it's 240k out of 250k, that's terrible
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Many will be retiring on 24k a year. Does 10 years worth of pension work as a comparator?
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