Continued squeeze on living standards: can you afford a cut to your pension?

cost of livingOfficial figures indicate that the Retail Prices Index (RPI) rose to a six-year high of 4.1% in December 2017. Given the continual pressure on members’ pay, which increased by 1.7% in 2017 and 1.1% in 2016, we continue to lose money in real terms each year.

To find out which of the 14 items in the ‘basket of goods’ that make up the RPI are the most affected, read January’s FACT service report.

In light of this, can you really afford cuts to your pension of up to 40%? UCU have announced 14 days of industrial action after talks with Universities UK (UUK) about the future of USS’s defined benefits (DB) pension ended without agreement.

UCU Senate House is setting up an emergency meeting of UCU members in the run up to the strike. We’ll be in touch once arrangements have been confirmed.