A new Pensions Committee has been set up to analyse and review information relating to both the Universities Superannuation Scheme (USS) and PASNAS, in order to make recommendations about the future of these schemes to our governing Council.
It follows the recent USS Trustee report on the 2020 valuation which proposed significant increases in contributions to maintain current benefits.
Universities UK (UUK) subsequently asked USS to carry out a review of their valuation which they hope will take place ahead of UUK’s consultation on the proposed contribution increases with employers later in March.
The Pensions Committee’s first task will be to prepare a draft of our response to the UUK consultation for Council approval. The Committee will also have responsibility for preparing a response to the PASNAS valuation which is expected in July 2021.
Members of the Committee are:
- University Treasurer Chair, Dr David Price;
- Remuneration Committee Chair, Dame Judith Macgregor;
- Lay members of Council – Mr Peter Hollins and Mr Stephen Young.
USS Briefing Sessions
If you are a member/eligible member of USS, this is a reminder that you are invited to join a briefing session about the latest developments in the scheme given by pensions expert, Brendan Mulkern. There are eight sessions which are running in March and April.
You can look at the slides used by Brendan here.
Find out more about these sessions and how to register.
