Pensions: Update on Universities Superannuation Scheme (USS)

On 24 June 2010, we published an update on developments in the review of the Universities Superannuation Scheme (USS). At that point, the next key step in the process was to be the meeting of the USS’s Joint Negotiating Committee (JNC) on 7 July.

The JNC met yesterday to consider two formal proposals, one from the Employers Pension Forum and one from the University & College Union (UCU).

At the meeting, the JNC agreed to recommend the package of proposals put forward by the Employers Pension Forum to the USS Trustee Board.

An account of the JNC meeting and recommended proposals are available on the USS website.

The USS Trustee Board will meet on 22 July to consider this recommendation. The final decision on how to address the challenges faced by the USS rests with the USS Trustee Board not with the JNC.

We will publish further updates as more information becomes available.

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