Update on consultation on USS reform – 25 November 2014

USS 2014 Actuarial Valuation

As part of the process for the 2014 actuarial valuation of the assets and liabilities of the Universities Superannuation Scheme (USS), the trustee is currently consulting on the proposed assumptions and data which it intends to use to determine the value of the scheme’s liabilities, and a draft of the updated Statement of Funding Principles.  Access the consultation document


Consultation process

The consultation requested feedback from Universities UK (UUK) and through it from individual participating employers by the end of November 2014.

On 21 November UUK issued a note on UUK’s assumptions proposed in the USS consultation and asked for responses by 28 November.


Imperial’s response

The College has chosen to share its response with staff. Its submission to UUK also includes a report published by a working group of Imperial academic staff, containing expertise in Mathematical Finance, Statistics, Actuarial Science and experience in decision making for large external pension funds, drawn together from the College’s Departments of Mathematics and Physics.

Imperial College London’s response to UUK on USS’s consultation on the proposed assumptions for the scheme’s technical provisions and recovery plan

Report on USS Pension Valuation by Imperial Working Party