Employer consultation in relation to proposed changes to Universities Superannuation Scheme

Update 15 June 2018

On 3 May we let you know that USS’s Joint Negotiating Committee (JNC) agreed to revoke benefit proposals recommended by the committee on 23 January, and that the associated consultation by employers with affected employees (and their representatives) was no longer required.

The full statement explaining the implications of that decision, including the consequent cost sharing arrangements being implemented by the trustee under rules 76.4-8, is available on our website.

Alongside this, UCU and UUK have formed a Joint Expert Panel (JEP) to assess the 2017 valuation. USS intends to engage constructively with this panel at the same time as implementing the cost sharing process (as is required under the scheme rules). The latter will require a statutory consultation by employers with affected employees.

We thank you for your continuing support in relation to the consultation process. If you have any queries please contact employerconsultation@uss.co.uk.

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