USS is consulting with sponsoring employers on the revised Statement of Investment Principles (“SIP”) which the USS Trustee has prepared following the completion of the 31 March 2020 Actuarial Valuation.
The purpose of a SIP is to set out the investment strategy, including the investment objectives and policies of the scheme. The law requires trustees of a scheme with more than 100 members to prepare a SIP and ensure it is reviewed every three years and after any significant change in investment policy.
The University is seeking the views of USS members and eligible members to inform its response. The relevant documentation can be viewed here.
0SIPConsultationlettertoemployers2022-31March22.pdf (PDF 143.79 KB)
1.Draft-MainSIP-Clean-31March22.pdf (PDF 274.51 KB)
2.Draft-MainSIP-TRACKED-31March22.pdf (PDF 338.50 KB)
3.Draft-USSInvestmentBeliefs-Clean-31March22.pdf (PDF 159.32 KB)
4.Draft-USSInvestmentBeliefs-TRACKED-31March22.pdf (PDF 161.45 KB)
VISQuestionsAndAnswers2022-03-30FINAL.pdf (PDF 349.41 KB)
Please send all feedback to hrrewardqueries@kent.ac.uk by 22 April 2022 in order to meet the consultation deadline.
The local consultation period regarding changes to USS closed in January 2022 and benefit changes came into effect on 1 April 2022. All members, eligible members and their Staff and Trade Union representatives received a copy of the statutory notice of consultation.
Three consultation meetings were held during the consultation period. The minutes from these meetings can be found below.
Member responses
During the consultation period, members were invited to give their feedback on the USS consultation webpages.
Member responses to the USS consultation questions can be viewed here.
Staff webchat
A webchat on the proposed changes was held on Teams on Tuesday 7th December 2021. The webchat was led by Jane Higham, Chief Financial Officer, with a presentation by Rebecca Dodd, from Mercer, pensions advisers.
A recording of the webchat can be viewed here
Jane Higham's presentation can be viewed here
Mercer's presentation can be viewed here
Sub-JSNCC consultation committees
Wednesday 10th November 2021
Minutes from the sub-JSNCC meeting on 10th November can be viewed here
Tuesday 14th December 2021
Minutes from the sub-JSNCC meeting held on 14th December can be viewed here
Friday 14th January 2022
Minutes from the sub-JSNCC meeting held on 14th January can be viewed here
Members were invited to send any questions or items for discussion to their JSNCC representative or to hrussconsultation@kent.ac.uk