Dear colleagues,

We are very much aware of the strength of feeling surrounding pensions and the need for continued action in advocating for you in the national pensions dispute.

You may recall we wrote to you last month inviting your feedback as UUK are consulting with USS employers on their initial views on the second report of the Joint Expert Panel (JEP2) and how its recommendations might be applied to the 2020 valuation.

JEP2 was published on 13 December 2019, and makes recommendations about the valuation methodology - the assumptions used to determine the financial state of the scheme and the contributions of employers and employees needed to sustain the scheme.

We want to share with you the draft response approved by Provost’s Board on Monday and give you the opportunity to comment on it before submission. If you have any feedback please email before Friday 28 February, when we must submit our response to UUK.

We will continue to respond to consultations and press for openness and transparency from all parties involved in the national discussions on USS. 

Best wishes

Alice and Ian

Professor Alice P. Gast, President

Professor Ian Walmsley, Provost