The first report of the Joint Expert Panel (JEP) was published on Thursday 13 September. The panel was established by Universities UK (UUK) and the University and College Union (UCU) in April to review the USS 2017 pension valuation, processes and assumptions and to agree key principles to underpin the future joint approach to the valuation of the USS fund.
The report covers the retrospective review of the 2017 valuation and explores the scope for possible adjustments to the methodology which would allow the valuation to be concluded.
Find out more from the executive summary and the full report.
UUK’s press release states that UUK will be consulting all USS employers next week (week commencing 17 September) on their views on the panel's recommendations to inform talks with UCU and the USS Trustee.