Dates confirmed for joint talks on future of USS pension scheme

8 Jan 2020

Five dates in January have been confirmed for representatives from Universities UK (UUK), the University and College Union (UCU) and the Universities Superannuation Scheme (USS) to meet and discuss reform to the USS pension scheme.

The talks will be facilitated by the chair of the USS Joint Expert Panel (JEP) Joanne Segars and attended by senior members of the organisations including UUK's Chief Executive Alistair Jarvis, UCU General Secretary Jo Grady, and USS Group Chief Executive Bill Galvin.

Talks to agree the approach for progressing the recommendations from the recent second report from the JEP  were announced shortly before Christmas. The scheme’s stakeholders have taken quick and positive action to confirm an initial five meetings in January.

Alistair Jarvis, Chief Executive of Universities UK, which represents 340 USS employers, said:

"We’re pleased to be able to move forward quickly with these tripartite talks and encouraged by the strong commitment from all parties to work constructively together.

“Priorities for discussion include full consideration of the recommendations of the Joint Expert Panel’s second report; jointly agreeing a refreshed scheme purpose and valuation principles; reforming the governance; and exploring different approaches to the valuation methodology for 2020, acknowledging the respective roles of each party in this process.

"Employers are committed to ensuring that USS remains one of the very best pension schemes in the country. We want to agree and deliver a long-term solution which is attractive and affordable for both members and employers.”

Dates for the five initial meetings in January, which may be followed by further meetings depending on progress, are:

  • Wednesday 15 January
  • Friday 17 January
  • Thursday 23 January
  • Monday 27 January
  • Wednesday 29 January

An update will be posted online within seven days of each meeting.