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The second report of the JEP was published on 13 December.
The JEP was set up by the University and College Union (UCU) and Universities UK (UUK) to provide an independent expert view of the valuation of the Universities Superannuation Scheme (USS).
Following its first report into the 2017 USS valuation, the JEP was commissioned by UCU and UUK to produce a further report aimed at establishing “key principles to underpin the future joint approach of UUK and UCU to the valuation of the USS fund”.
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.
The report has been welcomed by UCU, UUK and The Pensions Regulator.