USS – Joint Expert Panel

The Joint Expert Panel (JEP) has been set up to examine the valuation of the Universities Superannuation Scheme (USS).

Joint Expert Panel - Terms of Reference

The JEP is tasked with agreeing key principles to underpin the future approach of the University and College Union (UCU) and Universities UK (UUK) to the USS valuation.

As outlined in the panel’s terms of reference, a report from the JEP was published in September 2018.

The second phase of work on the USS valuation has two parts; the first is concerned with the valuation process and governance, the second with the long-term sustainability of the scheme.

The panel was set up under an agreement reached between UCU and UUK at the Advisory, Conciliation and Arbitration Service (Acas) in March 2018.

 

Joint Expert Panel membership

Chair: Joanne Segars OBE: currently the Chair of LGPS Central Ltd, which pools the investments of nine large Midlands-based local authority pension funds. 

UUK nominees: 

  • Ronnie Bowie: experienced actuary, currently Partner (previously Senior Partner) at Hymans Robertson. Chair of Court at the University of Dundee since August 2016.
  • Sally Bridgeland: provides governance consultancy for Avida International together with a number of non-executive and advisory roles. Having previously been the Chief Executive Officer of BP Pension Trustees Limited and before BP, she spent twenty years with Aon Hewitt.
  • Chris Curry: Director of the Pensions Policy Institute (PPI) with overall responsibility for leading and managing the PPI.

UCU nominees: 

  • Catherine Donnelly: Associate Professor at Heriot-Watt University, where she heads up the Risk Insight Lab which focuses on pension, investment and insurance research. 
  • Saul Jacka: Professor of Statistics at the University of Warwick and a Turing fellow at the Alan Turing Institute. Trustee of a defined benefit pension scheme for non-USS staff at the University of Warwick.
  • Deborah Mabbett: Professor of Public Policy at Birkbeck, much of her research has involved the relationship between the state and occupational or private pension schemes.
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