The governing body of Universities Superannuation Scheme Ltd (trustee company) is the trustee board. The board directs the scheme and its administration to ensure that the promised benefits are paid to all beneficiaries in line with agreed timescales.
Further information on the USS board can be found here.
Additionally, the board has established several committees and delegated authority to them to consider more complex or strategically important issues in greater detail on behalf of the board. These are detailed below.
The joint negotiating committee is established under the USS rules and its functions are:
The joint negotiating committee also has powers under the articles of association of the trustee company and under the scheme rules in connection with the appointment of independent directors and with the remuneration of directors.
The joint negotiating committee comprises 11 members as follows:
The terms of reference for the joint negotiating committee are defined within the USS rules.