June 2009
Notice issued to members in June 2009:
Important information for USS members - Dealing with the Funding Challenges.
January 2010
To read the text of a speech, given by Sir Andrew Cubie to the USS Annual Institutions' Meeting in November 2009, about the issues facing the Scheme and the progress of the negotiating group click here.
Sir Andrew Cubie is the independent Chair of the Joint Negotiating Committee (JNC) of USS (made up of 5 representatives appointed by UUK and 5 UCU appointed members and the Chair) and of the USS Joint Review Group (JRG), which is the sub-group of the JNC that is discussing the future of USS. Any decisions on the future of USS must be agreed by the USS Trustees and the JNC. Any final decisions or proposals agreed by the JRG will be referred to the JNC.
For a 'Questions and Answers' sheet, prepared by the Employers' Pensions Forum (on behalf of the University employers), about the reasons why changes to the scheme are necessary click here.
April 2010
Statement from the Joint Review Group 30 April 2010.
May 2010
Letter from Julia King
The two proposals submitted to USS’s Joint Review Group (JRG), by the Employers’ Pension Forum and UCU can be accessed at:
www.employerspensionsforum.co.uk/en/pension-schemes/uss-review.cfm.
July 2010
USS's Joint Negotiating Committee (JNC) accepted proposals for changing the Scheme, put forward by the University employers, at its meeting held on 7 July 2010. A statement issued by USS following the JNC meeting can be read on USS's website at:
http://www.uss.co.uk/news/Pages/StatementfromUSS.aspx
The USS trustee board subsequently accepted, on 22 July, the proposals put forward from the JNC. A statement by the USS trustee board can also be found on USS's website at:
http://www.uss.co.uk/news/Pages/StatementbytheUSStrusteeboard.aspx
The next steps will be for the USS trustee company to inform the University employers of the changes that they propose to implement. It will then be necessary for the University to formally inform the relevant employees and undertake a consultation during which time those affected can express their views on the proposals. It is anticipated that the consultation process will commence during September and will last at least 60 days. If you have any questions in the meantime please do not hesitate the Pensions Manager on extension 4578.
October 2010
A package of proposed changes to USS has been received by the USS Joint Negotiating Committee, and approved by the USS Trustee Board. The proposals are subject to a consultation of affected members and of their representatives, in accordance with statutory regulations.
The consultation will run from 20 October 2010 to 22 December 2010. Information on the proposed changes has been sent to all affected members by the University, either by mail or electronically.
You can find out more about the proposed changes on USS’s consultation website at:
www.ussconsultation.co.uk
The website contains:
- pdf copies of the information circulated to affected members
- Q&As and a glossary of useful terms;
- interactive modellers to see the effect of the changes;
- a video explaining the changes;
- a means to respond to the proposed changes.
March 2011
USS Ltd has confirmed that, as it has not been possible to finalise the formal rule changes required, it will not now be possible to implement the scheme changes with effect from the agreed date of 1 April 2011.
A statement was issued by the USS trustee board on 24 March. This can be found on USS's website at:
http://www.uss.co.uk/news/Pages/Trusteeboardstatement.aspx?
May 2011
The USS Trustee Board has issued a statement confirming that, at the USS Joint Negotiating Committee (JNC) meeting held on 10 May 2011, the proposed changes to USS were agreed. The full statement can be found at:
http://www.uss.co.uk/news/Pages/TrusteeBoardStatement1.aspx
The date of implementation of the changes will be announced in due course and is likely to be later this year.
June 2011
USS has confirmed that the changes to the Rules of the Scheme will come into force on 1 October 2011. A document summarising the changes has been produced by USS and can be found here.
