Update on USS
12 Nov 2014
Further discussions about USS took place on 7 November
These discussions were meetings of the formal Funding Benefits and Working group – which is comprised of USS, UUK and UCU representatives – and separate informal meetings between UCU and UUK.
In these discussions, UCU tabled a formal proposal for changes to the USS pension scheme. This follows on from a proposal that UUK had tabled at an earlier meeting.
There are common features between the two proposals - both, for example, include a move from final salary to career revalued benefits for all future service – however there are also areas of difference.
The UUK proposals can be seen at:
The UCU proposals can be seen at:
USS is now being asked to fully cost both proposals and give a view on whether they are viable within the legal constraints the USS trustees have to meet and whether they are likely to satisfy the Pensions Regulator.
UUK and UCU have agreed an intense series of meetings in November and December to explore both the employers’ and UCU’s proposals. The next meeting is a formal meeting of the Joint Negotiating Committee, made up of five UUK representatives, five UCU representatives and an independent Chair, this coming Thursday (13 November).
If you would like to know more about the current position, two information sessions are taking place at the University on the following dates:
- Wednesday, 26 November (12-1pm) in the Alexander Theatre in the Samuel Alexander Building
- Monday, 1 December (12-1pm) in Lecture Theatre B in the Roscoe Building
Further details of how to book a place on these sessions will follow on StaffNet and eUpdate.
You can also find out more at:
Will Spinks
Registrar, Secretary and Chief Operating Officer