USS presentations in July: places still available

Members/eligible members of the Universities Superannuation Scheme (USS) are invited to attend a presentation today (Tuesday 3 July) about the latest developments in USS. If you’re unable to make today’s event, there are further presentations on 9, 16 and 17 July. Book your place below.

The University has arranged for USS pensions expert, Brendan Mulkern*, to run the presentations and a member of the University Executive Board will introduce each session.

A reminder of the background

In January, Universities UK (UUK) and University College Union (UCU) representatives on the Joint Negotiating Committee (JNC) discussed changes to the scheme in response to the last USS valuation which revealed funding challenges.

These changes were rejected on 27 April and UUK and UCU agreed that an independent Joint Expert Panel should review the valuation with a view to finding a solution acceptable to members.

Under the USS rules, the absence of any benefit proposals recommended by the JNC results in the ‘cost-sharing’ rule (76.4-8) taking effect. This involves an increase in contributions to the scheme (as determined by the trustee’s valuation) with a 35:65 split between members and employers respectively.

The presentation will explain these latest developments, including rule 76, while also providing more information about the Joint Expert Panel, and other key stakeholders involved in this process.

The presentations

For further information:

USS website

*Brendan Mulkern was Head of Policy and External Affairs at USS until 2016 and therefore has a strong knowledge of USS and of its stakeholders and their perspectives.  More recently Brendan has been involved in providing pensions consulting support to a number of higher education bodies.