For definitions of terms used on these pages, see this glossary.
Background
USS is currently undertaking a valuation (a statutory assessment of a pension scheme’s overall financial health) as at 31 March 2020. Employers were consulted about the assumptions and technical provisions for this valuation in the autumn of 2020. USS published details of the valuation findings in early March 2020, and their figures project a large deficit for the scheme, which would necessitate a steep rise in contributions to fund. The next step will be for the Joint Negotiating Committee (representing scheme members and employers) to decide how to deal with the deficit and these increased costs.
Articles and University statements on the 2020 valuation of USS (most recent at the top)
01/03/2022 Briefing: University position on USS after the JNC decision of 22 February
28/02/2022 Notice on University Council decision on UCU proposals
23/02/2022 Message from the Vice-Chancellor on USS
14/02/2022 Briefing: formal UCU proposal to be considered by university employers this week
26/01/2022 Update: results of the member consultation on proposed benefit changes
21/12/2021 Video of consultation open meeting
08/11/2021 Update: new research from Cambridge compares USS assumptions to historical market data
03/09/2021 Update: JNC decided this week to progress UUK proposal for benefit reform
28/05/2021 Briefing: the University's views on UUK's counter-proposal to USS (and survey results)
28/04/2021 Give your views on USS affordability: the Pensions Working Group is running a survey
03/03/2021 USS announces significant increase in cost of providing current benefits