USS update

‚ÄčCommenting 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."   ‚Äč

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

Steven Jefferies

Steven Jefferies

Head of Media
Universities UK

Eloise Phillips

Eloise Phillips

Media Officer
Universities UK

Clara Plackett

Clara Plackett

Senior Media Officer
Universities UK

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