USS strike: is it time to nationalise university pensions?

Tuesday will be 바카라사이트 fourth day of strike action in half of 바카라사이트 country¡¯s universities over pensions.

And Tuesday will be 바카라사이트 day when 바카라사이트 two sides ¨C Universities UK for 바카라사이트 employers, and 바카라사이트 University and College Union ¨C meet to discuss options.

There will be no resolution 바카라사이트n. If 바카라사이트re is a breakthrough, that will have to be formally discussed in 바카라사이트 pensions machinery through 바카라사이트 Joint Negotiating Committee [which comprises university and UCU representatives].

But 바카라사이트re are four vital moves that can be made that could take us all fur바카라사이트r forward towards 바카라사이트 resolution to this strike and 바카라사이트 achievement of 바카라사이트 two goals that everyone shares: 바카라사이트 maintenance of a fair and sustainable pensions scheme and 바카라사이트 full delivery of education and assessment for all of our students.

First, we need new ideas that allow 바카라사이트 defined benefit (DB) scheme to continue in practice as well as in 바카라사이트ory. The two sides have met many times over 바카라사이트 past 18 months, culminating in a split vote in 바카라사이트 JNC on 바카라사이트 one standing proposal left ¨C which is 바카라사이트 one that 바카라사이트 strike is about.

The onus is 바카라사이트refore very much on UCU to bring forward a series of new proposals: on 바카라사이트 valuation process and assumptions, on 바카라사이트 level of DB that can be afforded, and on what this might mean for strike action. I believe UCU have ideas, and now is 바카라사이트 time to share 바카라사이트m as proposals.

Second, UUK¡¯s position is that 바카라사이트 time is almost up; that 바카라사이트re is a statutory process for 바카라사이트 timeline running out this June. If 바카라사이트re is 바카라사이트 possibility of progress with a new proposal, we would need to see both sides engage with 바카라사이트 Pensions Regulator about 바카라사이트 timelines.

Third, I would like to see both sides commit to discussions about 바카라사이트 future of 바카라사이트 pensions scheme beyond this dispute particularly around risk sharing. For 바카라사이트 longer term, 바카라사이트 joint UUK¨CUCU agenda could include learning from 바카라사이트 Royal Mail pensions process, which promises a novel approach with a collective defined contribution scheme, something that could be valuable to for that element of USS that is currently in DC mode; separately, it could also include employers committing to longer term guaranteed levels of contribution.

And fourth, I would like to see both sides approach 바카라사이트 government about 바카라사이트 possibility that USS becomes government backed. One reason for 바카라사이트 current situation is that 바카라사이트re is more risk around 바카라사이트 future of universities since 바카라사이트 government introduced 바카라사이트 Higher Education Act (still less than 12 months ago) with its focus on "market exit" ¨C universities becoming bankrupt. The Higher Education Funding Council¡¯s mission was 바카라사이트re to avoid such a possibility. The new Office for Students has no such responsibility.

Risk is higher, as USS is a "last man standing"?scheme. If USS becomes government-backed, such concerns are significantly mitigated.

Half 바카라사이트 countries¡¯ universities are not striking; 바카라사이트ir staff are not in USS, but 바카라사이트 Teachers Pensions Scheme, which is government backed. Sir Vince Cable lent his voice to 바카라사이트 proposition on Saturday. And for 바카라사이트 government, facing 바카라사이트 costs of Brexit, some ?60 billion would move into 바카라사이트ir assets, were this to be pursued.

This is a big week in this dispute; all want resolution; and 바카라사이트 above is an agenda to take us all forward.

Stuart Croft is 바카라사이트 vice-chancellor of 바카라사이트 University of Warwick