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USS pensions restored after UCU strikes: benefits reinstated, member contributions cut to 6.1%, £900m one-off payment and £18bn uplift following reversal of 2022 cuts

Published on: 02 April 2024

Published by a Law360 reporter
Legal News
Article summary

On 1 April 2024, the University and College Union (UCU) announced that benefits for Universities Superannuation Scheme (USS) members were reinstated, following Universities UK, the sector body, agreeing in October 2023 to roll back the reductions. Members of the union staged 69 days of strike action in response to proposals to change the pace at which benefits are built up. The scheme’s trustee had signed off the reductions, arguing they were required to address a funding shortfall...

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