The University and College Union has called to suspend all strike action after its members accepted an offer to examine the latest valuation.
The dispute, which involved strikes at 65 universities, centres around a proposal by employer association Universities UK to close the defined benefit scheme for academics and replace it with a defined contribution arrangement.
Nearly two-thirds (64 per cent) of the union members who voted in the latest ballot were in favour of establishing a joint expert panel to examine the Universities Superannuation Scheme's 2017 valuation, which UUK had based its closure proposal on.
UCU has previously expressed concerns over the methodology and assumptions used in the valuation, which determined that the £60bn scheme had a deficit of £6.1bn taking into account a move to DC, and £7.5bn without a DC switch.
UUK said it will seek support from the scheme and the Pensions Regulator for the examination, and will appoint a jointly agreed chair of the panel as soon as possible.
A UUK spokesperson said: "Reviewing the methodology and assumptions in the current valuation will build confidence, trust and increase transparency in the valuation process... It is important that interested parties engage with the panel and remain open-minded about its possible findings."
UCU general secretary Sally Hunt said: "In line with the decision of members the union will suspend its immediate industrial action plans but keep our legal strike mandate live until the agreement between UCU and UUK is noted by USS."
