UCEA, the formal representative of the c.330 employers participating in the Universities Superannuation Scheme (USS), has completed its consultation with employers on the scheme’s 2026 valuation (Technical Provisions).
The consultation provided an opportunity for employers to assist UCEA in responding to the USS Trustee’s first formal consultation on the 2026 valuation while sharing long-term objectives and views on relevant matters, including the scheme’s improved funding position.
The consultation ran from 15 July to 11 September 2026. UCEA received responses from 81 employers, representing 93% of the active membership of USS. The responses demonstrated support for the core technical aspects of the valuation and provided UCEA with a basis for setting out employers’ views to the USS Trustee.
Alongside the statutory consultation matters, employers commented on their long-term objectives and other considerations relevant to the scheme’s future direction, with an emphasis on stability and sustainability.
Raj Jethwa, Chief Executive of UCEA, said:
“UCEA has now completed its consultation with USS employers, receiving responses from 81 employers representing 93% of active USS membership. We are grateful to employers for their detailed contributions, which have informed UCEA’s positions as set out in our response to the Trustee.
“The responses demonstrate that employers recognise the importance of USS to scheme members. The overriding message is one of support for the changes in methodology introduced at this valuation, and a focus on the long-term sustainability and stability of the scheme and the continuation of valuable benefits for staff.
“UCEA’s role is to represent employers’ views, and the consultation outcome is at the beginning of a detailed process. We look forward to continuing to work with the USS Trustee and with the University and College Union, through the Joint Negotiating Committee, in the next phase of the valuation process; and to keeping employers and other stakeholders informed of developments.”
Notes
The consultation is an important first stage in the 2026 valuation process. The next steps will follow the established valuation timeline.
University and College Union (UCU) is the nominated formal representative for USS scheme members. For more information about UCU, visit www.ucu.org.uk
The Joint Negotiating Committee (JNC) is a body established under the rules and has a vital role in the running of USS. Once the USS Trustee has established the funding position and required overall contribution rate, the JNC will be able to consider how any change to the overall contribution rate should be split between members and employers and/or if it wants to make any changes to future service benefits. The JNC is made up of equal numbers of UCEA and UCU representatives, with an independent chair appointed by the committee itself. For more information about the JNC, visit https://www.uss.co.uk/about-us/how-were-governed/joint-negotiating-committee
