Responding to the publication of the second report of the Joint Expert Panel on behalf of Universities UK, which represents the views of 340 scheme employers, Professor Julia Buckingham, President of Universities UK and Vice-Chancellor of Brunel University London, said:
"The Joint Expert Panel has made a helpful set of recommendations to strengthen the scheme. I hope that this report will act as a catalyst and platform for developing a joint approach between the union, the scheme's trustee board and employers for the 2020 valuation of USS."
"We will shortly seek employers' views on the issues and options suggested by the panel to inform our joint working with the University and College Union and USS trustee to reform the scheme. We know that employers want to progress discussions as quickly as possible."
"Priorities include jointly agreeing a refreshed scheme purpose and valuation principles; reforming the governance; and exploring different approaches to the valuation methodology for 2020."
The second report of the USS Joint Expert panel is available online.
Universities UK is the collective voice of 136 universities in England, Scotland, Wales and Northern Ireland. Its mission is to create the conditions for UK universities to be the best in the world; maximising their positive impact locally, nationally and globally. Universities UK acts on behalf of universities, represented by their heads of institution. Visit: www.universitiesuk.ac.uk
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. Universities UK represents the views of 340 scheme employers on USS.