2017 valuation updates


An update on cost sharing and what it means for you

22 June 2018

Our most recent update on the 2017 valuation looks at the establishment of the Joint Expert Panel (JEP) by our stakeholders, and the separate ‘cost sharing’ process that is being followed at the same time.

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Stakeholders withdraw proposed changes to USS benefits

3 May 2018

On Friday 27 April, representatives of UUK and UCU sitting on USS’s Joint Negotiating Committee (JNC) agreed to revoke benefit proposals it recommended to the trustee in January.

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Six things you should know about the 2017 valuation

16 March 2018

The value of our diverse assets rose by over 20% – more than £10 billion – to a new high of £60 billion in the 12 months to 31 March 2017.

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Proposed changes to future USS benefits

23 January 2018

Employer (Universities UK) and member (University and College Union) representatives on our Joint Negotiating Committee (JNC) have, for several months, been discussing potential changes to the scheme’s future benefit structure in response to the latest triennial valuation.

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Update on the 2017 valuation funding review

21 December 2017

For the 2017 valuation funding review, USS is expected to demonstrate to the Pensions Regulator no later than 30 June 2018 that the scheme is sustainable.

The USS trustee needs to conduct the valuation with regard to that legal deadline.

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UUK responds to USS's consultation on funding proposals

14 November 2017

We’ve recently consulted with Universities UK to understand the views of the employers on the assumptions and risk underlying our funding proposals.

USS, as trustee, outlined the maximum level of risk we could contemplate taking in funding the scheme on a prudent basis (a statutory requirement).

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Update for retired and deferred members

2 October 2017

You may have seen recent coverage in the national media relating to USS, its funding position and the current triennial valuation.

Firstly, please be assured that USS does not have a £17.5 billion funding deficit.

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Consultation with Universities UK (UUK) commences

1 September 2017

The USS trustee started its consultation today on its proposed assumptions for the 2017 valuation with Universities UK (UUK). The trustee reviews all assumptions every three years to place a value on the pensions promised to date and to assess what payroll contributions are required in future to fund the pensions currently offered.

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Last updated: about 26 days ago