Pension provision in the higher education sector has experienced significant change over the past decade. Schemes have seen increases to employer and member contributions and changes to the form and structure of pension scheme benefits. To date these developments have largely been driven by financial pressures and changes in government policy.
Recognising the divergence in higher education pension provision as well as wider changes in the sector, the Employers Pensions Forum (EPF) instructed Universities UK and the Universities and Colleges Employers Association (UCEA) to consider a long-term higher education sector position on pension provision. This document summarises the evidence considered and puts forward a set of principles, designed to underpin decisions on pension provision, and practical recommendations.