USS – timeline of next steps | University of Oxford

USS – timeline of next steps

12 June 2018:   

Open pension forum -  event for University employees to find out more about the future of the USS pension scheme.

30 June 2018:   

Deadline for USS to submit a valuation of the scheme to the Pensions Regulator. In parallel, USS begins proceedings for implementing Rule 76.4.

 July 2018:   

A further update from USS on how it would implement Rule 76.4.

September 2018:   

Report from the Joint Expert Panel due to be submitted on the valuation and the agreed methodology for the valuation in future.

From  September 2018:   

Employers will consult with employees about how to implement Rule 76.4 and what increases in contributions members will be required to make.

From September 2018:

Based on the findings of the Joint Expert Panel a parallel consultation may be held by employers about whether they should alter the benefits offered under the pension scheme.  

1 April 2019:   

USS will conclude its valuation and implement the changes to contributions or benefits under Rule 76.4.

Later in 2019:  

Implementation of any agreed alternative benefit proposals.