A group of 12 leading UK pension funds convened by the Church of England Pensions Board, representing £400bn assets under management and working on behalf of over 18 million members, will jointly consider how to support the climate transition in emerging markets.
On Thursday 19 May 2022, Professor Hutton withdrew her Employment Tribunal claim against USS. This was Professor Hutton’s unilateral decision – there is no settlement agreement. The trustee has decided not to pursue Professor Hutton for its costs.
Universities Superannuation Scheme, the UK’s largest private pension scheme by assets, has officially made The Pensions Regulator’s (TPR) pledge to adopt industry best practice in preventing scams. The voluntary pledge encourages pension schemes to make a commitment to protecting members’ best interests when it comes to potential scams.
The latest interim monitoring report provides some positive indicators of the current funding status and contribution requirements of the scheme, as a result of the changes to benefit structure agreed by the Joint Negotiating Committee (JNC), and recent market developments.
The modeller which supported the employer’s consultation with members is available and provides a comprehensive view of the likely impact on USS members’ pensions following the implementation of the JNC’s agreed changes to benefits from 1 April 2022.
UCU, UUK and the USS trustee understand the strength of feeling surrounding the 2020 valuation. We cannot, however, accept personal attacks and intimidation aimed at the Chair of the Joint Negotiating Committee (JNC), whether through social media or other channels. The Independent Chair is appointed by both stakeholders and is a role that requires integrity at all times. We are grateful for the current Chair’s hard work and dedication in seeking to support the JNC, per its responsibilities under the Scheme Rules, through an extremely challenging period.
A statement from USS in relation to its Russian-related investments following the invasion of Ukraine.
At a hearing yesterday (Monday, 28 February 2022) in the claim brought by two members of the Universities Superannuation Scheme for a derivative action against the directors of the trustee, the judge ordered a future hearing for both sides to attend to determine whether permission should be given for the claim to proceed. This was after initially refusing to allow even this step when the application was made on the papers.
Universities Superannuation Scheme (“USS”), the UK’s largest private pension scheme by assets under management, is today announcing important interim targets to achieving its ambition to be Net Zero for carbon generated by its investments by 2050, if not before.
Read how we implement our commitments to the UK Stewardship Code and summarise our responsible investment activities and outcomes across all of our asset classes.
