The Joint Expert Panel has published its second report, which establishes key principles to underpin the future joint approach of Universities UK and the University and College Union to the Universities Superannuation Scheme.
The report makes a series of recommendations concerning the governance of the scheme, the valuation methodology, and the scheme’s sustainability.
Commenting on the report, Professor Julia Buckingham, President of Universities UK and Vice-Chancellor of Brunel University London said:
“The Joint Expert Panel has made a helpful set of recommendations to strengthen the scheme. I hope that this report will act as a catalyst and platform for developing a joint approach between the union, the scheme’s trustee board and employers for the 2020 valuation of USS.
“We will shortly seek employers’ views on the issues and options suggested by the panel to inform our joint working with the University and College Union and USS trustee to reform the scheme. We know that employers want to progress discussions as quickly as possible.
“Priorities include jointly agreeing a refreshed scheme purpose and valuation principles; reforming the governance; and exploring different approaches to the valuation methodology for 2020.”