The valuation is our regular snapshot of the scheme’s funding position. It shows us what contributions we need from members and your employers in order for us to pay the pension that you expect to receive.
The 2020 valuation will look at the scheme’s position at 31 March 2020, so we’ve already started talking to stakeholders about our thinking around the principles that could guide our approach and the factors that will influence how we calculate the contributions we’ll need in the future.
What this means to you
One of the things we’ve been looking at is how changes to the approach might impact what members are required to pay from 1 October 2021. The valuation is a lengthy process so we’re starting to talk to employers about this now.
Based on feedback about the last valuation we did, we’re also considering some other changes to how we approach the valuation. You can find out more, by registering for the 2020 valuation webinar.
2020 valuation webinar
For USS members and employers
Thursday 9 April, 1.00pm
Members of the USS Executive team, including CEO Bill Galvin, will host the 2020 valuation webinar.
They will:
- explain the 2020 valuation process, timeline and our guiding principles
- outline how we are engaging with our stakeholders
- discuss the factors that influence our approach to calculating what contributions we need from members and employers
- cover a range of possible outcomes that might result from the feedback we get from stakeholders.
You’ll also be able to send in your questions during the webinar, and we’ll do our best to answer them during the session.
Register for the webinarTalking to our stakeholders
We regularly discuss the valuation with our stakeholders, including UCU and UUK, to make sure they have the information they need to represent the views of USS members and employers.
As part of these conversations, we’ve put together a discussion document for employers, so we can get their views on our approach to the valuation – the methodology.
We’ve also shared this document with UCU to show our emerging thinking around the valuation to your representatives.
Resources and information
- You can find a copy of the discussion document and other resources, including a timeline and videos, on the valuation pages.
- You’ll also see a ‘Quick Summary’ version of the discussion document which distils the main points and includes a useful glossary of terms.
- We’ll continue to update the valuation pages, whenever we have more information for you and our other stakeholders. We’ll keep you up to date with news on our homepage.
Published: 12 March 2020