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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.

It’s coming up to two years since the date of the 2020 valuation. What’s been happening to the funding position in that time and where do things stand today?

We recently responded to DWP’s Climate Investment and Reporting Consultation which sought views on additional requirements and metrics for climate reporting.

Value for money matters at the best of times but, with rising inflation and conditions in financial markets making defined benefit pensions more expensive, it is more important than ever that we can demonstrate that USS is run in a cost-effective manner.