UCU: USS Governance Reform and Next Steps

Motion

Motion text: Conference notes:
1. UCU rejects the 2020 valuation and consequent cuts;
2. UUK’s recent rejection of UCU’s proposal at the JNC has narrowed UCU’s options in terms of the USS dispute;
3. UUK and UCU have some common ground in their criticism of the USS Trustee’s valuation methodology.
Conference resolves to:
a. call on UUK to support an immediate governance review, to be carried out with an evidence-based process patterned on a reconstituted JEP;
b. consult with UUK to agree approaches and a legal framework to support:
i. mechanisms to guarantee a contributions cap;
ii. restoring CPI indexation within the bounds of prudence;
iii. equal covenant support for both UCU and UUK proposals;
c. embark on a sustained press campaign to highlight problems over the management of USS, and the scheme’s valuation and methodology.
d. consider partaking in a consultation on members’ views of the USS pension linked to c.