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News and updates
Future cost of USS pension set to be announced
The USS Trustee are expected to announce the future cost of the USS pension before the new year.
UCL submits our response to the USS pension valuation consultation
11 November 2020
UCL Council approved our response to the USS pension valuation consultation and this was submitted ahead of the 30th October deadline. Thank you to all the staff that attended the Town Hall meeting and who submitted comments, questions, and suggestions to help inform our response.
Second report of the Joint Expert Panel (JEP) released
19 December 2019
The second report of the JEP was published on 13 December. This second report largely covers the governance of the scheme and the valuation methodology. It also makes recommendations to address the issue of intergenerational fairness.
Message from the Provost: Results of the UCU Union members' ballot
1 November 2019
"I am writing about the announcement yesterday of the result of the UCU membership ballot at UCL. The ballot gave UCU a mandate for industrial action over both pay and pensions. We don’t yet have any dates for action.
Provost’s message to USS members
30 August 2019
“I am writing to update you on the current situation with the USS pension scheme, and to ask for your views to help shape our response to the latest round of consultation on the proposed recovery plan.
Provost's message about the Joint Expert Panel's report and recommendations
17 September 2018
"I wanted to keep you updated on developments in the wake of the release of the Joint Expert Panel (JEP) report.
We welcome the findings of the report and thank the panel for its work. I am glad to say that the JEP’s findings were unanimous and estimated a lower rise in contributions than currently being consulted on. The report identifies scope to adjust a number of the valuation assumptions, which is promising.
USS pensions: update on the JEP and USS Trustee
25 July 2018
"I wanted to update you on developments from the USS Trustee and the progress of the Joint Expert Panel (JEP) which was set up to examine the USS pension valuation, and agree key principles to underpin the approach to be taken in future.
UUK and UCU talks
22 March 2018
"More than a week has now passed since the HE committee and Branch Chairs of UCU rejected the revised USS pension agreement, put together by joint UUK and UCU negotiators with ACAS mediation.
The unsuccessful outcome of the pensions negotiations
14 March 2018
"Following an intense week of talks between the University and College Union (UCU) and Universities UK (UUK), I was very sad to hear that the UCU Higher Education Committee and UCU Branch Chairs have rejected the agreement that ACAS-mediated joint negotiations had proposed yesterday.
Proposed changes to the USS pension scheme
1 March 2018
"We are now into the second pensions strike period affecting universities across the UK and I was pleased to see that talks yesterday between UUK and UCU have made some early progress.