Materials for employers: first consultation on JEP2 and related matters for the 2020 and future valuations

19 Feb 2020

A short Q&A and presentation deck summarising the first consultation to support employers in responding to the Joint Expert Panel’s second report (JEP2) and related matters for the 2020, and future, actuarial valuations.

The JEP2 report was published in December 2019 and made recommendations on future valuations, starting in 2020, and the longer-term sustainability of USS.

This first consultation is part of a series of three, which will gather the views of employers on the JEP’s recommendations, and to consider how these might be implemented in the context of the 2020 valuation, and in supporting the longer-term sustainability of USS.

In this phase, employers are encouraged to provide their initial views on JEP2 and how its recommendations might be applied to the 2020 valuation. It will be in the next phases where the options for the 2020 valuation and the impact on contribution rates will be consulted on in more detail.

The slide deck available in powerpoint and PDF formats provides a summary of the consultation paper for employers to use in presentations and discussions. The Q&A is intended to assist with any enquiries from employers about the first phase of this consultation, but they are not exhaustive. You can also download the consultation paper and response forms from this page.

Phase 1 consultation closing date: 28 February 2020.

For definitions of key terms, please refer to the glossary.