Home > News and blog > USS update

USS update

​Commenting on today's decision by the University and College Union (UCU) Higher Education Committee, a spokesperson for Universities UK, which represents the collective view of USS employers, said:

"Today's decisions will lead to union members being consulted on whether to support the establishment of the Joint Expert Panel. This panel will help to build confidence in the valuation process and assumptions. It will also give time to pause, to reflect and to rebuild the trust that has been damaged over the past few months."

"Employers have indicated their support for this proposal, however, this is conditional on the suspension of industrial action. We expect the union to provide urgent clarity on the action planned for the week of the 16th April. Suspension of this action would be a huge relief to students ahead of the main examination period."

"If supported by UCU members, a jointly agreed chair will be appointed as soon as possible to oversee agreement of the Panel's terms of reference, order of work and timescales."

"Together with UCU, we will seek support for the Panel from the USS Trustee and the Pensions Regulator, recognising their statutory duties."   ​

Notes

  1. USS is one of the largest private pension schemes in the UK and is the principal scheme for academic and comparable staff in UK universities and other higher education and research institutions. 
  2. On Friday 23 March, Universities UK and UCU published the proposal for the Joint Expert Panel.


Key Contacts

Gareth Morgan

Gareth Morgan

Media Relations Manager
Universities UK

Clara Plackett

Clara Plackett

Press and Social Media Officer
Universities UK

Blog

Coins

USS Pensions Update

18 March 2018
UUK's Chief Executive, Alistair Jarvis, provides an update on USS Pensions.

Pensions – the importance of getting it right

3 October 2017
UUK's Chief Executive, Alistair Jarvis, sets out his analysis of the way in which the Universities Superannuation Scheme needs to react to recent concerns.

News

UCU and UUK announce appointment of Chair for USS Joint Expert Panel

18 May 2018
Joanne Segars OBE has agreed to be the Chair of the Joint Expert Panel (JEP) to examine the valuation of the Universities Superannuation Scheme (USS).

Ballot result on Joint Expert Panel

13 April 2018
Comment on the decision of University and College Union (UCU) members to support the establishment of a Joint Expert Panel to examine the USS 2017 valuation.