UUK proposes unnecessary and damaging cuts

UCU accuses Universities UK (UUK) of proposing unnecessary and damaging cuts to USS pensions at a time when the scheme and the universities supporting it could afford to take a more progressive approach. This was in reaction to Universities UK's consultation of employers on their response to the contribution rates proposed by the USS Trustee for the 2020 valuation.

Pension advisors First Actuarial have also provided the union with new guidance on the valuation of the USS scheme covering funding and prudence and security of accrued benefits.

Previosuly the UUK had written to the USS trustee calling for a review of the scheme valuation and has questioned the role of the Pensions Regulator (£).