Update on the 2020 USS valuation
Posted on behalf of: Internal Communications
Last updated: Friday, 21 January 2022
This is part of a regular series of communications to update staff on the progress of the 2020 valuation of the USS pension scheme.
In this update:
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Member consultation closes
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UUK responds to UCU reballot results
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Sussex welcomes progress on governance and low-cost options
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A reminder of where to find resources and practical help to keep you informed
Member consultation closes
A consultation with staff eligible to be members of USS closed this week.
In October, eligible staff were emailed a link to the consultation, which remained open until Monday (17 January). The University of Sussex encouraged all eligible staff to have their say.
The USS consultation website, at www.ussconsultation2021.co.uk, remains live and contains an individual modeller which can be used by eligible employees to assess the impact of the proposed changes on them and some explainer videos.
The USS Trustee Board and the Joint Negotiating Committee (JNC) will now consider the responses received, and decide whether any adjustments should be made to the proposals based upon the feedback.
UUK responds to UCU reballot results
Universities UK (UUK) has commented on the outcomes of the UCU reballots, published this week, which show that a further 10 higher education institutions now have the mandate to take industrial action over USS, pay or both. The total number is now 68.
Read UUK’s full response.
Sussex welcomes progress on governance and low-cost options
The University enthusiastically welcomes the latest update on the three workstreams related to the USS 2020 valuation:
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working group to explore lower cost options.
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working group to consider conditional elements of scheme design
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independent governance review of USS
You can read the progress report on the USS employers website.
A reminder of where to find resources and practical help to keep you informed
We are keeping up-to-date information about the 2020 valuation on our website. This includes links to key documents published by the main parties, as well as recordings of recent webinars.
If you have questions about your individual pension or circumstances, you can contact pensions@sussex.ac.uk.