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State pension cuts – that’s another £500 a year please

Changes to state pensions taking effect from 2016 come on top of the cuts to USS pensions already imposed. Professor James Davenport assesses the damage saying “these changes will cost most of our members £482/year, and the University £1172/year. I find it hard to envisage a situation in which our members would be better off in retirement as a result. It is not clear where the University will get the extra sum (probably more than £1M) from – in theory the employers might try to raid USS, but this will certainly harden their resolve on USS.”. For full details see UCU briefing

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