Potential joint proposal on USS reform

Southend1

guymo wrote: »

Most likely everyone directly affected already knows this, but the official consultation on changes to the USS begins on Monday March 16th. Documentation is available here:
https://www.ussconsultation.co.uk/members

Interesting reading. I wondered what the 1% DC match was all about; it seems it's meant as a kind of stick to beat us into accepting future changes under threat of the match being withdrawn to fund deficits in the DB section.

I guess the other purpose is as a tool to get members used to the DC section ready for when they close the DB section down to new contributions. How long do we give it? Well it was about 3 years from the last reform until they came after the FS section so another 3-6 years maybe? And they have cleverly established 12% as a standard for DC contributions at an early stage while the DB section is still in existence.

It's a clever package overall, with just the right balance of sweeteners to win members over. If only it was being done for the right reasons!

Southend1

So the website broke before the consultation even started! I wonder when it will be up and running and whether it will be extended as a result?

kidmugsy

Southend1 wrote: »

done for the right reasons!

Avoiding the ruin of the scheme and the impoverishment of its members might well be a right reason.

Southend1

kidmugsy wrote: »

Avoiding the ruin of the scheme and the impoverishment of its members might well be a right reason.

I think that would be a very right reason! I just don't think that's why they are really doing it.