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USS pension update

18 Nov 2020

Employers respond to USS Trustee’s 2020 valuation technical provisions consultation

Universities UK has published the USS employer response to the 2020 valuation technical provisions consultation.

Responses were received from employers representing approximately 88% of the scheme’s active membership, including our University. The headline comments include:

  • There is disappointment in the way the USS Trustee has chosen to present its proposed approach on the 2020 valuation;
  • The trustee’s covenant assessment, its proposed rule change and debt monitoring arrangements, and recovery plan need to be resolved before employers can make informed judgements on the valuation.
  • Further information is needed from the trustee on the wider perspective as many employers noted that it was impossible to answer questions in isolation, and these should be looked at within a more comprehensive picture.

You can read the full employer response at:

You can also read our University’s response, published on StaffNet, at:

Further information