UCU response to USS Joint Expert Panel’s second report
13 December 2019
UCU has welcomed the second report from the Joint Expert Panel (JEP) looking at the Universities Superannuation Scheme (USS). The JEP was set up by UCU and Universities UK following the industrial dispute over proposed changes to the USS pension scheme.
Commenting on the report, UCU general secretary Jo Grady said: ‘UCU welcomes the second report from the JEP and we would like to thank the panel members for all their work and also thank those who submitted evidence.
‘This second report looks at key issues around the governance of the scheme and makes some strong recommendations that, if implemented, should give scheme members greater confidence about how the scheme is run. We are particularly pleased that the report highlights the importance of mutuality.
‘This report sets out a path which may provide an opportunity for lower contributions than USS has scheduled. We need all parties to now engage with the report in order to secure members’ pension benefits in an affordable way and to ensure the scheme’s long-term sustainability.
‘We also welcome the JEP’s call for facilitated meetings between stakeholders, the Trustee and, where appropriate, The Pension Regulator, as a way to find agreement between all parties. While implementation of the JEP recommendations won’t solve all the issues at stake in the dispute, this report provides a strong starting point for further discussions.’