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You’ll have heard a lot about the 2020 valuation in our communications, but we wanted to give you a back to basics of what it’s about, how it impacts you and answer some of the key questions you’ve been asking.
It’s our job to look after the money that you and your employer pay into your pension, in trust for the people who will benefit from it: you and your beneficiaries.
UUK has completed a consultation with employers on options to address the scheme’s funding challenges. These options include your employers giving more commitment and financial backing to USS and possible changes to future benefits. We’re now looking at how this may impact contributions.
The JNC is now considering the information we shared about the costs of funding USS, and UUK is consulting with employers.
Here we address the main comments and answer the questions members have been asking about the valuation.
We’ve reached an important point in the 2020 valuation, setting out the contributions we need to continue providing the benefits you’ve built up.
As we start the New Year, we’re continuing to work hard with all the scheme’s stakeholders, including the representatives of members and employers, and The Pensions Regulator, to complete the 2020 valuation.
Get the latest on the 2020 valuation from Director of Engagement Mel Duffield.