We are the formal representative for employers in the Universities Superannuation Scheme (USS). Social media policy: https://xitter.gq/t.co/o3eN3U7bMm
Joined September 2018
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Media statement on today's joint statement between @UniversitiesUK and @UCU on the 2023 valuation 👇
loom.ly/bpwnQb8
Comment on today's agreement between @UniversitiesUK and @UCU on the outcome of the 2023 valuation 👇
loom.ly/PULzjls
USS employers response to the latest monthly monitoring stats
ussemployers.org.uk/news/uss…
Our response to the publication by #USS of its Accelerated Year-end Review briefing on the funding position as of 31 March 2022 ➡️ loom.ly/jdxFm-k
UUK has today started an initial consultation with employers on the approach to a governance review of USS to be carried out with independent expertise. UUK has written to the UCU inviting them to play an active role in the review. loom.ly/rIqU7Ls #USS
The employer proposal secured a viable and implementable solution to the 2020 valuation, which retains a significant element of defined benefit within the future pensions earned by members. We have not made misleading claims.
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Irrefutable analysis by Grant et al just published showing the devastaing impacts of the April 22 cuts to future @USSpensions. Shows the real cuts that will be imposed and how @UniversitiesUK have repeatedly made misleading claims @BrightonUCU
arxiv.org/pdf/2206.06201.pdf
We have consistently said that scheme members should use the USS modeller to check the possible impacts.
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Employers chose to lessen the impact of rising inflation on members by agreeing to defer the application of the 2.5% inflation cap up to and including the increase due in 2025.
More detail in our letter to UCU on the changes: ussemployers.org.uk/sites/de…
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USS employers response to latest monthly monitoring of the #USS scheme (March 2022)
ussemployers.org.uk/news/uss…
USS Employers retweeted
We've just published an update that addresses our interim, indicative monitoring of the scheme's funding position. You can read it here: uss.co.uk/news-and-views/lat…
Important update on the funding position of #USS @USSpensions, just published:
uss.co.uk/news-and-views/lat…
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#USS:
"Even allowing for the same level of covenant support as is supporting the revised benefit structure from 1 April 2022, the indicative contribution rate required for the pre-1 April 2022 benefits would be 38.9% – 41.5% (future service cost 38% and deficit of £3.6bn)."
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❗️NEW: Letter from Alistair Jarvis to @DrJoGrady in response to @UCU claims about the latest funding position of #USS.
ussemployers.org.uk/sites/de…
"Should the conditions seen in the last month prevail at the next valuation, it may be possible to reduce contributions or increase benefits or some combination of both."
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"We remain open-minded about the optimal timing for the next valuation and look forward to seeing the more in-depth analysis of the position at the end of March 2022, which should be ready in May."
5/5 #USS