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USS valuation update

28 May 2021

USS comments on UUK consultation with employers, which raises new options to address the scheme’s funding challenges

The Universities Superannuation Scheme (USS) has published a valuation update following the Universities UK (UUK) consultation with USS employers, including our University.

The consultation – which also involved a survey of colleagues, members and those eligible to be members of the pension scheme – provided alternative options to the 2020 valuation, including employers giving more commitment and financial backing to USS and possible changes to future benefits.

A key part is a package of measures to protect the strength of ‘the covenant’ – the commitment and level of financial backing that employers provide to USS. A stronger covenant would have a positive impact on contribution rates.

The USS Trustee is now looking at how this may impact contributions.

To read more, visit:

Further information