USS pensions update

The University has produced a short Q&A-style video which is aimed at providing staff with more information on the planned reform of the Universities Superannuation Scheme (USS).

Although there are no finalised proposals for reform at this stage, the video has been prepared to provide additional background to the current situation.

It features interviews with the University's Senior Vice-Principal, Professor Charlie Jeffery, and the Director of Finance, Phil McNaull.

It is the University's view that any reforms should strive to offer an affordable and sustainable pension scheme, which has flexibility and remains attractive to both current and future members.

This has been articulated in the University’s response to Universities UK (UUK), which is representing the employers in the current phase of the consultation process.

UCU and UUK representatives are working to find common ground in developing a proposal that can be shared with all USS members and it is hoped that this will be available early in 2015. After that there will be a formal 60-day consultation process with members.

Once the proposals have been announced, there will be a series of open meetings for staff, details to be announced in the New Year.

The purpose of these meetings will be to present information on the proposals and the implications for staff and to provide staff with an opportunity to ask questions and input views.