USS 2020 Valuation

340 higher education employers, including universities, research institutions and charities, offer the Universities Superannuation Scheme (USS), a pension arrangement which forms a valued part of the remuneration package of many staff in higher education.

USS, along with many other schemes in the UK that provide defined benefits, has in recent years seen the costs of those benefits increase. Changes in the UK and global economy mean that expected returns in the future from the scheme’s investments are lower, meaning that more money is needed to fund the pension promises for future retirees.

The USS Trustee board has agreed to take forward the Joint Negotiating Committee’s (JNC) recommendations for concluding the 2020 USS valuation, saving pension scheme members and universities from steep contribution increases from 1 October 2021.

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2020 Valuation

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Panel of people

Joint Expert Panel (JEP)

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