Russell Group response to launch of consultation with USS employers

08 April 2021

In response to the formal consultation with employers in the Universities Superannuation Scheme (USS) launched by Universities UK (UUK) on 7 April 2021, a Russell Group spokesperson said:

“Staff are the lifeblood of our institutions, and our universities invest more in their people than anything else. We want to provide a pension that is attractive and fair to staff but it must be affordable for everyone involved. At least 1 in 6 university staff are already opting out and if contributions rise, we are concerned that opt-outs will do as well.

“There is an opportunity now for employers to consider options with all USS members to make the scheme more sustainable, including proposals to give those at the start of their careers more flexibility and choice. Alongside this, we will continue to work with UUK to press the USS Trustee and ensure its valuation is not unnecessarily cautious.”