The Joint Expert Panel convened by UCU and UUK to resolve the Universities Superannuation Scheme (USS) 2017 valuation dispute has published a call for submissions to the second phase of its work.

This phase will review the governance arrangements of USS and the process of valuation, before moving on to consider the long-term sustainability of the scheme.

Submissions are invited until Friday 15 March 2019 for the first part of this work to examine the valuation process, governance, the roles of UCU and UUK, and the potential for the involvement of Scheme members in the valuation process.

The second part of the Panel’s work, to start later in the year, will consider how the long-term sustainability of the Scheme can be secured through the development of a shared set of principles and will revisit the valuation of technical provisions and other aspects of the valuation methodology, including Test 1.