This is part of a regular series of communications over the next few months to update staff on the progress of the 2020 valuation of the USS pension scheme.

In this update:

• VC co-signs UUK call for review of 2020 valuation
• USS holds member webinar
• Staff information sessions take place
• Next steps

Universities UK calls for review of 2020 valuation

Universities UK (UUK), on behalf of 340 USS employers, has written to the USS Trustee urging it to review its decision to set very high prices to maintain current benefits and to The Pensions Regulator (TPR) questioning its influence on the 2020 valuation. In his role as Chair of the Employers Pensions Forum, Sussex’s Vice-Chancellor, Adam Tickell, co-signed both letters.

You can read both letters on the USS Employers website.

USS holds member webinar

In a webinar on 10 March, USS Chair Dame Kate Barker and Chief Executive Bill Galvin gave USS members an update on the 2020 valuation of the scheme and answered questions.

You can watch a recording of the webinar on the USS website.

Staff information sessions take place

The second of two staff information sessions about USS and the 2020 valuation took place this week. The webinar and Q&A were led by Rebecca Dodd, an independent pensions expert from Mercer.

We have now published a recording of the first webinar and answers to staff questions that were not covered in the session (login required).

Next steps

UUK continues to talk with the USS Trustee and TPR and awaits a response to the concerns outlined in their letters. We will share any developments in our next update. In the meantime, later this month, UUK will be consulting with employers on matters relating to the 2020 valuation and to agree a joint approach ahead of upcoming meetings of the Joint Negotiating Committee (JNC).