Analysis reveals huge losses proposed

Staff would see tens of thousands of pounds a year wiped off their pensions if proposals made by Universities UK (UUK) were introduced.

The report by First Actuarial for UCU warns that some staff would lose over £200,000 from their pensions if the radical proposals were implemented.

The UCU modelling in the report looks at 12 hypothetical staff members who have been paying into the scheme for different lengths of time and who will finish their careers on different salaries. It compares the difference in what they would receive now and under the UUK proposals. It also looks at what new starters set to join the scheme now would receive compared to under the current scheme.

It found that staff who had worked in the sector the longest and moved up the pay grades would be hit the hardest by the changes.

Download the full report below.

First Actuarial report to UCU: Universities Superannuation Scheme – benefit illustrations, Sep 14