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CONFIRMED: USS data confirms benefits can be restored and backdated

27 October 2022

Just days after our historic ballot result in USS, I am writing to bring you news about the scheme.

After requests were made by our union, the USS trustee has released new information detailing the costs of retroactively restoring benefits to the point at which cuts were forced through in April this year.

This new information shows that the majority of pensions benefits can be restored and backdated, returning £0.5bn to the retirement funds of 200,000 staff in the scheme. This would still leave a healthy surplus.

This comes after USS monitoring data released earlier this month showed that restoring benefits going forward would cost less than current contributions and still leave the scheme in surplus
All the arguments against revoking the cuts and restoring benefits have gone up in smoke. 
Employers have a small window of opportunity to acknowledge the case for returning our pensions - and act upon it.
If they do not, our union will lay out a programme of industrial action.

Read more here.

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Yours in solidarity,
Jo Grady
UCU general secretary

Last updated: 27 October 2022