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Universities Superannuation Scheme (USS) Pension Reform

Universities UK represents higher education employers in discussions over the future of the USS scheme, which is a valued part of the remuneration package in higher education.

On behalf of over 350 USS employers, UUK has been negotiating with the University and College Union (UCU) over changing the scheme since January 2017 given the funding challenges it faces.

On 23 March 2018, Universities UK and UCU announced that they wanted to establish a Joint Expert Panel to review the USS valuation, processes and assumptions and to agree key principles to underpin the future joint approach to the valuation of the USS fund. The establishment of the Joint Expert Panel has received support from USS employers and UCU members.

In May 2018, the terms of the reference for the panel and the appointment of its chair, Joanne Segars, were announced. UCU and UUK have each nominated three representatives to be panel members.

Updates on the work of the Joint Expert Panel will be published following panel meetings:

For any queries relating to the valuation – including how the deficit is calculated – please contact USS directly.

Latest information for employees and students  – 25 April 2018

 
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Answers to frequently asked questions by USS scheme members, inlcuding information on the recent Acas talks, and the Joint Expert Panel (JEP). ​


Q & A for students - inudstrial action - 13 April 2018

 
 
 
 
Information for students on the USS pension scheme, and the impact of last term's industrial action.

 

Further resources​ 

Given recent developments some of the details in the information provided below may not reflect the latest position; please also see press releases​ for the latest developments.​

 

Universities UK’s work on USS is overseen by the Employers’ Pensions Forum. More information on the Employers’ Pensions Forum can be found on its website.

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Suitability and sustainability: pensions in the higher education sector

Report
3 August 2017
A report to consider a long-term higher education sector position on pension provision, written for the Employers Pensions Forum in collaboration with the Universities and Colleges Employers Association.

Employers Pensions Forum report cover

Employers Pensions Forum: Self-Administered Trusts Strategy Project Report

Report
19 September 2013
A report into the current status of Self-Administered Trusts prepared on behalf of the Employers Pensions Forum.

Pension previons report cover

Pension provision in the higher education sector: initial report

3 June 2008
Written for members of UCEA, Universities UK and GuildHE in the light of increasing concerns about the rising cost of pension provision.

Report cover

Strategic enquiry into the pension arrangements for the higher education sector

17 October 2007
The first published output of the strategic enquiry into the pensions arrangements of the higher education sector.

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.

 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.

Addressing the university pension fund deficit

2 August 2017
Following the news coverage on the USS pensions fund deficit, Professor Koen Lamberts discusses the challenges facing the scheme.

The team

Mary Lambe

Mary Lambe

Senior Policy Lead - Pensions
Universities UK