USS has commenced a formal consultation with employers on a revised Statement of Investment Principles, following the completion of the 31 March 2023 actuarial valuation.
This consultation is at an individual employer level, and Universities UK (UUK) does not have a legal role acting for the employers collectively (unlike, for example, for the actuarial valuation).
Nevertheless, we believe it would be helpful to employers to read the views and perspective of Aon, UUK’s actuarial adviser, on the proposed changes – and also to help with understanding the broader context in which these SIP changes are presented (for example in relation to specific changes to the investment strategy, and to matters relating to Responsible Investment).
The advisory note prepared by UUK’s advisers, Aon, can be downloaded below.
Employers wishing to provide a response to the consultation should contact USS no later than 29 April 2024.
