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Following 2 years of discussions on changes to the Universities Superannuation Scheme (USS), a package of proposals put forward by the scheme's Joint Negotiating Committee (JNC) has been accepted by the USS board, subject to a statutory consultation with employee representatives and scheme members.

Further details of the USS review can be found at the link above.

Whilst the consultation will be facilitated by the trustee company and the results considered by the USS board, it is a statutory requirement that each relevant employer undertakes the consultation with their affected (actual & prospective) members and their representatives. The consultation will commence on Wednesday 20th October 2010 and close on Wednesday 22nd December 2010; a period of 64 days.

The consultation will give USS members the opportunity to provide their response and feedback (confidentially and anonymously, if preferred) to their respective employer, through the consultation website above.

¹û¶³Ó°Ôº Pension Services are co-ordinating this consultation.

Image: 'Money on My Mind' by jo.sau on Flickr. Some rights reserved.