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USS valuation

8 September 2020 | last updated: 16 September 2020

USS has now started to consult employers on the technical provisions for its 2020 valuation.

This is a critical moment, as each employer now has a chance to give their view on USS's proposals. As things stand, those proposals would lead to massive increases in the cost of our pensions.

Throughout the earlier stages of the valuation process employers have broadly agreed with us about the approach which USS should be taking and they have been willing to join us in challenging USS's methods and assumptions. However, that agreement will mean very little if employers don't translate it into robust consultation responses.

We will be holding an event for branch pensions officers in September with our superannuation working group vice chair, Sam Marsh, to discuss what branches need to do next and how they should engage with their employer over the valuation.

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