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Updates from the Provost

UCL President & Provost, Professor Michael Arthur, provides updates on the USS pension scheme.
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Virtual Town Hall, 26 October

 

26 October 2018

President and Provost, Michael Arthur answered your questions on USS pensions in the Virtual Town Hall on 26 October 2018.

Listen to an introduction to the pensions issue from Professor Michael Arthur.

Hear the answers to the following questions taken during the Virtual Town Hall, 26 October 2018:

Is the USS valuation methodology flawed?
Listen to the answer

What happens next?
Listen to the answer
 
When will pension contributions increase?
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What was decided at the UCL Council meeting on October 10?
Listen to the answer
 
What is being done by UCL to support staff who can’t afford proposed cost increases?
Listen to the answer
 
Will we have to go through this year after year? How do we make pensions sustainable?
Listen to the answer
 
Will there be a consensus on scenarios?
Listen to the answer
 
What does the future look like and will there be cost increases again and again?
Listen to the answer
 
Will the investment portfolio be impacted by Brexit in a significant way?
Listen to the answer

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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. 

Read full update

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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.

Read full update.

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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.

Read full update.

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UCU industrial action

15 February 2018

"It’s important that UCL is able to offer all staff a secure and affordable pension. A formal consultation on the proposed changes will begin next month, and I fully support and will continue to encourage scheme members to share their views to help shape an outcome that works today and in the future.

Read full update.