UCEA and UCU have been working with the USS Trustee to consider scheme sustainability through a joint Stability Working Group. As part of this work, UCEA and UCU have been considering whether an alternative scheme design such as Conditional Indexation (CI) could provide additional stability for USS and might deliver better outcomes for both members and employers.
An interim report on this exploratory phase of work has been prepared for the USS Joint Negotiating Committee (JNC). It provides an interim update on progress and highlights areas for further exploration. Please see a link to the report below, along with an initial set of questions and answers – these have been developed to help answer questions from staff and pensions working groups.
A second, more detailed, report is planned for the autumn, which will allow for deeper discussion with scheme members and employers before we decide whether to proceed to a more detailed development phase of work.
Please note, the CI report has also been published on the USS website and on the UCU website.
If you have any questions about UCEA’s support for USS employers, contact pensions@ucea.ac.uk
