For Staff

The Universities Superannuation Scheme (USS) is currently going through a valuation process – a statutory assessment of a pension scheme’s financial health, carried out at least once every three years. Based on this, the USS Trustee (which manages the scheme) has recently announced that contributions will need to rise significantly for both members and employers on the basis of current benefits. 

The scheme faces some significant challenges and we’re talking openly about these as a University community.

In April-May 2021, UUK consulted the 340 employers in USS on options for reforms to address a sizeable deficit and to tackle an increasing high opt-out rate. Options being discussed include changes to benefit structures and contribution levels. More than 1000 eligible Leeds staff responded to a recent survey about aspects of the scheme – thank you. The University Council’s response to the UUK consultation was submitted in May 2021.

Watch | Vice-Chancellor Professor Simone Buitendijk expresses thanks and looks ahead to the next steps (captioned)

What happens next?

• UUK will reflect on the views expressed in the consultation before deciding with representatives of UCU – in the Joint Negotiating Committee (JNC) – how to meet the challenges posed by the valuation. These decisions will relate to the future benefits offered by the scheme and the level of contributions made by employers and members. 
• A period of member consultation will follow during autumn 2021.

You can also refer to:

• ‘USS – a sense of community can help unlock a solution’  Inside Track by Vice-Chancellor, Professor Simone Buitendijk
• ‘USS – themes from recent school events’ Inside Track by Simone
• Glossary of key terms 
• Recording: Leeds conversations event from Tuesday 23 February (captions available) – Simone was joined by Deputy Vice-Chancellor Professor Hai-Sui Yu and Mark Taylor-Batty, University of Leeds UCU Pension officer, in three live events organised to share a summary of negotiations and decisions to date and perspectives on the issues faced by the scheme.

Our principles 

To work for everyone involved, we believe the scheme should be: 

• Fair: so it works for and is accessible to all potential members, regardless of age, background or career stage. 
• Valued: so everyone sees and receives the benefit of it.  
• Sustainable: so it continues to be affordable and secure for individuals and employers. 
• Stable: so there’s confidence in it. 
• Portable: so it helps colleagues move freely around the sector to develop their careers. 

Find out more