Employers back USS reforms despite regulator’s concerns

Universities support proposals to keep lower contribution rate to pension scheme, but worries remain

Employers have back proposed changes to the Universities Superannuation Scheme in a bid to avoid a significant rise in contributions, but the regulator has warned that the proposal is “not acceptable in its current form”.

On 15 June, Universities UK, which represents employers in the USS, said that 95 per cent of eligible institutions had responded to its recent consultation on proposed changes to the USS to avoid what it fears is a “ruinous” hike in joint employer and employee contributions, to between 42 and 56 per cent of salary.