Your pension will be reviewed each April in line with our standard pension increases. Increases are linked to increases in official pensions paid to public sector employees (like teachers, civil servants or NHS employees).
For any USS benefits you earned before October 2011, we match the full increases.
For any USS benefits earned from 1 October 2011 we match the increases for the first 5% and pay 50% of any increase over 5%, up to a maximum annual increase of 10%*.
We’ll send you a Pension Increase letter each April to confirm any increases you might receive.
During any periods of deflation, or negative inflation, we won’t reduce the value of your pension, but it won’t increase.
*This cap doesn’t apply to added years AVCs under agreements dated prior to 1 October 2011.