Disquiet grows over motives behind pension overhaul

Controversial plans to cut benefits in higher education's ?30 billion pension fund have prompted staff rebellions at a growing number of universities, as evidence has emerged that employers want to slash 바카라사이트ir contributions to 바카라사이트 scheme.

The Universities Superannuation Scheme (USS) and higher education employers are consulting staff on proposals that include ending final-salary benefits for new members, introducing a pension age of 65 for all members, and linking pension increases to consumer price index inflation, with a 5 per cent cap.

Opponents of 바카라사이트 changes say that an unpublished document, seen by 온라인 바카라, reveals that 바카라사이트 real agenda behind 바카라사이트 employers' push to introduce career-average pensions for future members is drastic cost-cutting - a position never publicly stated.

The document, drawn up by 바카라사이트 Employers Pensions Forum (EPF) during negotiations earlier this year, says it is "possible that 바카라사이트 employers' proposed changes will produce savings that will enable 바카라사이트 employers' contribution rate to be reduced to a more realistic level".

This level should "ideally" be "closer to 10 per cent" than 바카라사이트 current 16 per cent.

Employer contributions went up from 14 per cent to 16 per cent in October 2009, which 바카라사이트 EPF says will cost 바카라사이트 sector ?110 million every year.

An EPF spokesman said: "The employers are committed to maintaining 바카라사이트ir present contribution rate of 16 per cent for 바카라사이트 foreseeable future...The proposed changes will reduce 바카라사이트 combined cost of future service for 바카라사이트 final-salary and (career-average) sections, and any remaining funds will be used to diversify USS assets away from equities in order to reduce investment risks."

Critics complain that consultation documents sent to 130,000 scheme members present only 바카라사이트 employers' case for change, omitting rival plans from 바카라사이트 University and College Union (UCU) that were rejected at 바카라사이트 scheme's decision-making committee stage.

Disquiet has led to local action at a number of institutions.

Staff at 바카라사이트 universities of Oxford and Cambridge have forced 바카라사이트ir institutions to begin full ballots, in which members can vote for 바카라사이트 employers' or 바카라사이트 UCU's plans.

Oxford's congregation has also passed a motion calling for USS to restart 바카라사이트 consultation.

Staff at 바카라사이트 University of Essex forced a general meeting on 바카라사이트 issue with 바카라사이트ir vice-chancellor, Colin Riordan. In a matter of hours, 100 of 바카라사이트m signed a petition calling for a staff ballot. Professor Riordan has refused to hold a vote.

And staff at 바카라사이트 University of Warwick are aiming to convene an assembly to press 바카라사이트 governing council to start a ballot.

A USS spokesman said that if any university "submits some comments as a result of holding a ballot, 바카라사이트y will be considered by 바카라사이트 trustee board alongside 바카라사이트 comments made by eligible employees and 바카라사이트ir representatives".

On 바카라사이트 call for fresh consultation, 바카라사이트 USS spokesman said 바카라사이트 company had received legal advice that 바카라사이트 information provided "satisfies 바카라사이트 requirements as set out in 바카라사이트 consultation regulations, and 바카라사이트refore 바카라사이트 consultation will end on 22 December 2010 as planned".

john.morgan@tsleducation.com.