In the latest twist in the bitter row over university pensions, the Universities Superannuation Scheme is to carry out a second valuation of its fund, but default increases in contributions will still take effect on 1 April 2019.
The value of the pension fund has been a central issue of debate amid a bitter row between university staff and employers. In a statement on 22 November, responding to a consultation of members, the USS revealed it would now carry out a valuation of the pension fund as it stood at 31 March.
“As the last valuation was a thorough and robust review, much of the information we need is already available but we will update things like market data, forecasted investment returns and life expectancy, and we will also be able to incorporate actual investment experience since the date of the last valuation [at 31 March 2017],” the USS said.
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