USS valuation update
28 May 2021
USS comments on UUK consultation with employers, which raises new options to address the scheme’s funding challenges
The Universities Superannuation Scheme (USS) has published a valuation update following the Universities UK (UUK) consultation with USS employers, including our University.
The consultation – which also involved a survey of colleagues, members and those eligible to be members of the pension scheme – provided alternative options to the 2020 valuation, including employers giving more commitment and financial backing to USS and possible changes to future benefits.
A key part is a package of measures to protect the strength of ‘the covenant’ – the commitment and level of financial backing that employers provide to USS. A stronger covenant would have a positive impact on contribution rates.
The USS Trustee is now looking at how this may impact contributions.
To read more, visit:
Further information
- Read our University’s response to the UUK consultation and survey results
- Pensions news on StaffNet
- Watch a recording of our open meeting with members of the Senior Leadership Team and external pensions expert, Paul Hamilton
- USS timeline
- 90-second film explaining how USS works
- USS Members | Facebook
- USS webinar