Universities UK (UUK), the organisation which represents the UK’s universities, has launched a formal consultation with the 340 employers in the Universities Superannuation Scheme (USS).
The consultation will seek employers’ views on ways of creating a “valuable, affordable, inclusive, and sustainable scheme for their staff for the long term.”
The consultation follows the publication of the USS 2020 valuation report which said pension contributions will need to rise sharply.
As one of the employers in the USS, and to help us with our response to the UUK consultation, the University of Southampton is engaging with our staff who are members and eligible members of the scheme. This has already involved a series of briefings and will include regular SUSSED and Staff Digest updates and an online questionnaire produced by UUK, which will be sent out directly to members/eligible members. The purpose of the questionnaire is for employers to seek the views of staff on the USS 2020 valuation consultation, the views gathered will inform our employer response to the UUK consultation.
There will be a formal consultation for scheme members at a later stage, when there is a firm proposal on contributions and benefits.
USS Briefing Sessions
If you missed the recent briefing sessions about the latest developments in the scheme – presented by pensions expert, Brendan Mulkern – you can look at his slides here.
Further information can be found below:
