Pensions Update - consultation on the 2018 valuation - 9 September 2019
We wrote to you on 30 August asking for your comments on the UUK consultation on the proposed Schedule of Contributions and Recovery Plan for the implementation of Option 3 to complete the 2018 valuation. This would set total contributions at 30.7% for the next two years with the rate to be shared 65:35 between employers and members respectively (as agreed by the JNC).
This consultation ends today. You can view our response attached, which UUK will now consider together with other employers responses and formally respond to the USS Trustee in time for their Board meeting on 11 September.
We will keep you updated with the latest information and formal confirmation from the USS Trustee of contribution rates to apply from 1 October 2019 as soon as we hear more.
We are aware that UCU members will have now received ballots for industrial action. We hope that ongoing negotiations between UUK and UCU can reach an agreement soon.
If you have any questions, please do email firstname.lastname@example.org
If you would like to know more about the 2018 valuation please visit our webpages.
Alice and Ian
Professor Alice P. Gast, President
Professor Ian Walmsley, Provost