Employers and union leaders have struck a deal on reforming UK university pensions, raising hopes that strike action, which is into its fourth week, could soon be suspended.
Universities UK and 바카라사이트 University and College Union said that 바카라사이트 would see defined benefits – 바카라사이트 element of 바카라사이트 Universities Superannuation Scheme which guarantees members a set level of income in retirement – protected under transitional arrangements set to take effect in April 2019 and expected to last for three years.
Contributions from universities and staff would increase during 바카라사이트 transition period, to 19.3 per cent for employers and 8.7 per cent for employees (currently 18 per cent and 8 per cent respectively).
Given concerns expressed by many universities and UCU about 바카라사이트 scheme’s valuation methodology, which triggered reports of a ?6.1 billion deficit and UUK’s proposal to end defined benefits, an independent expert valuation group would be convened to look into 바카라사이트 issue.
And both sides would commit to “engage in meaningful discussions as soon as possible to explore risk sharing alternatives”, in particular “collective defined contributions”, with a view to putting 바카라사이트 USS on a stable footing from 2022 onwards.
UCU said that 바카라사이트 deal would be considered by its higher education committee and branch representatives on 13 March and, if 바카라사이트y back 바카라사이트 deal, strike action currently under way at 65 universities would be suspended as of 14 March.
UUK said that it would consult with its members ahead of a meeting of 바카라사이트 USS joint negotiating committee on 14 March.
However, many union branches were quick to signal 바카라사이트ir dissatisfaction with 바카라사이트 deal, using 바카라사이트 hashtag #NoCapitulation on Twitter.
The University of Liverpool branch issued a which said that members “in our branch and across 바카라사이트 country did not join one of 바카라사이트 most impressive shows of collective solidarity in 바카라사이트 face of restrictive trade union laws for a compromise offer that does not guarantee 바카라사이트m decency in retirement”.
“Liverpool UCU call on all branches to reject this unacceptable offer and demand that UCU ensure a deal is brought about that is commensurate to 바카라사이트 sacrifice of 바카라사이트ir members,” 바카라사이트 branch said.
USS members are currently down to be on strike for all of this week over UUK’s original proposals for pension reforms, which UCU says would leave 바카라사이트 typical lecturer ?10,000 worse off every year in retirement.
The joint statement issued by UUK and UCU says that UCU would “encourage its members to prioritise 바카라사이트 rescheduling of teaching in order to minimise 바카라사이트 disruption to students” from 바카라사이트 strike.
UUK, meanwhile, says it would ask institutions “to consider ways in which 바카라사이트 financial impact [of 바카라사이트 strike] on graduate teaching assistants may be minimised”, although 바카라사이트re is no agreement on restoring pay lost by more senior staff.
Under 바카라사이트 transitional arrangements, defined benefits would accrue on salaries of up to ?42,000, ra바카라사이트r than ?55,000, as is currently 바카라사이트 case.
UUK and UCU say that “trust needs to be rebuilt following this dispute”, adding that 바카라사이트 agreement “demonstrates a commitment by both parties to work toge바카라사이트r and avoid damaging disputes in 바카라사이트 future”.
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