Further phase two meetings of the Joint Expert Panel

29 April and 2 May 2019

The Joint Expert Panel held its sixth and seventh meetings of their Phase 2 work. The Panel considered feedback on a series of interviews with a range of stakeholders involved in the valuation and governance process to better inform their findings.

The Panel held an evidence session with the Pensions Regulator to discuss the valuation process and the conclusions of the first report of the Panel. The discussion considered the current regulatory framework within which the valuations take place.

The Panel held a further evidence session with representatives of the Chairs of University Council (CUC) on issues relating to the valuation process. This session was helpful in aiding the panel’s understanding of the valuation process from the institutions’ perspective.

Over the course of both meetings the Panel have considered possible principles that could underpin future valuations and the question of scheme sustainability.

Taking into account their terms of reference and the evidence received to date, the panel discussed the second call for evidence. As always, the panel is keen to hear from a wide range of stakeholders with an interest in the scheme.

Earlier in the year the panel issued a call for evidence which focused on the valuation process and its governance. The panel is grateful for the responses received.

The panel is now issuing a further call for evidence to aid the second part of this phase of its work. This call for evidence focuses on:

  1. potential principles that could underpin future valuations and support the scheme’s sustainability;
  2. alternative paths to the valuation; and
  3. questions of how risk is shared in the scheme, including approaches to contributions and mutuality.

You can find the call for evidence here.

Please submit your comments to: submit@ussjep.org.uk by June 14 2019.