Following Pensions Committee on 22 February, the University has given its support to an interim joint statement by Universities UK and UCU on the USS dispute and on their ambitions for the 2023 valuation.
The statement refers to information from the USS Trustee which suggests that the forthcoming 2023 valuation is likely to reveal a high probability of being able to improve benefits and reduce contributions. We would encourage colleagues to read the full text of the joint statement.
The latest valuation will be based on a snapshot of the USS pension scheme on 31 March 2023, with the full process of valuation scheduled to run into 2024, as set out in the timetable and accompanying information published by USS.
