Further update on Universities Superannuation Scheme
03 Dec 2014
Further discussions are taking place concerning the Universities Superannuation Scheme (USS)
In the news item of 4 November, there was a link to the consultation on the proposed assumptions for the scheme’s technical provisions and recovery plan. As previously stated, whilst USS is required under the rules of the scheme to formally consult with UUK, it has also chosen to share the same information with UCU nationally.
The closing date for this consultation was 28 November and the response UUK has made to the consultation can be read at:
As you will see, UUK has indicated that they do have “significant concerns about the overall level of prudence that is being assumed in the valuation process”.
It is my understanding that UCU has also submitted their comments on the consultation document to the USS Trustee Board.
The USS Trustee Board next meets on 4 December. There will also be a meeting of the Funding and Benefits Working Group (USS, UUK and UCU) later the same day.
Will Spinks
Registrar, Secretary and Chief Operating Officer