This is an update in a regular series of communications to update staff on the progress of the 2020 valuation of the USS pension scheme.
In this update:
- New, expert sessions for Sussex staff
- Employers support finalisation of 2020 valuation
- A reminder of where to find resources
New, expert sessions for Sussex staff
As the USS Trustee will be facilitating an employer consultation with members later this year and UCU will soon be balloting members over possible industrial action, we believe it is more important than ever that staff have access to clear and transparent information about the 2020 valuation of USS.
With this in mind, we have arranged for a pensions expert to come and talk to staff about the current situation regarding USS.
Rebecca Dodd, from Mercer, is holding open sessions for staff, on: Monday 11 October (2-3.30pm) and Thursday 14 October (10-11.30am).
As well as answering your questions, Rebecca will provide an overview of:
- What is happening at the moment with regards to the USS 2020 valuation
- Who the parties are that are involved in the discussions and what they’ve said – including the Pensions Regulator
- What the benefit changes might be and how you will be able to have your say
Mercer work with individuals and organisations across many sectors and organisations, not just higher education. They have not been briefed to put across the University’s view and are here as a resource for staff to get information and ask questions.
The forum is open to any member of staff but will be particularly of interest to members of USS.
If you would like to attend, please sign up via Eventbrite.
Employers support finalisation of 2020 valuation
Universities UK (UUK) wrote to the USS Trustee this week to share the collective response of employers to the Trustee’s consultation on finalising the 2020 valuation.
There was strong, albeit reluctant, support among employers for finalising the valuation in the form proposed.
While backing the proposal as a whole, employers expressed concern at a number of the details and these have been fed back to the Trustee, via UUK.
Colleagues will also have the chance to feed back their thoughts on the proposal when the employer consultation with members begins. This is expected in November.
A reminder of where to find resources
We are keeping up-to-date information about the 2020 valuation on our website. This includes links to key documents published by the main parties, as well as recordings of recent webinars.
If you have questions about your individual pension or circumstances, you can contact pensions@sussex.ac.uk.