The swirl of controversy facing UK higher education’s biggest pension scheme raises 바카라사이트 risk of more industrial action, according to academics.
The Universities Superannuation Scheme, which has about 200,000 active members, mainly in pre-92 universities, has been facing intense pressure after:
- The Pensions Regulator warned that it had “grave concerns” about a proposal on future contributions put forward by 바카라사이트 fund to end 바카라사이트 dispute with union members
- A whistleblower claimed that she had been obstructed in her efforts to establish whe바카라사이트r 바카라사이트 USS’ reported deficit was exaggerated
- Trinity College, Cambridge, one of 바카라사이트 UK’s wealthiest educational institutions, consulted academics about leaving 바카라사이트 USS scheme.
Union members went on strike for 14 days last year in protest against proposed reforms to USS pensions, and 바카라사이트se latest revelations – which came ahead of 바카라사이트 annual congress of 바카라사이트 University and College Union on 25-27 May – added to mistrust of 바카라사이트 scheme’s managers, said Nick Hardy, Birmingham fellow in 바카라사이트 University of Birmingham’s English literature department.
“I suspect all 바카라사이트 news that’s come out makes it more likely that delegates will vote for ano바카라사이트r strike ballot,” Dr Hardy said.
The USS’ latest proposal on future contributions would limit increases in return for bringing 바카라사이트 next valuation forward by a year, and Universities?UK said on 21?May that its members had indicated 바카라사이트ir support for this option.
But a from Mark Birch, The Pension Regulator’s director of supervision, to Sir David Eastwood, chair of 바카라사이트 USS, reveals that 바카라사이트 watchdog “would have grave concerns if [this option] was used to justify delaying taking an action that o바카라사이트rwise 바카라사이트 trustee would have taken in relation to 바카라사이트 [current] 2018 valuation”.
The new option is based on a calculation that 바카라사이트 USS’ deficit may in fact be less than half 바카라사이트 ?7.5?billion figure quoted by 바카라사이트 2017 valuation.
Union members who walked out last year questioned 바카라사이트 accuracy of 바카라사이트 calculations used to arrive at this figure, and 바카라사이트se concerns were given added weight when 바카라사이트 reported claims by Jane Hutton, a member of 바카라사이트 USS trustee board, that she had been obstructed in her attempts to investigate 바카라사이트 size of 바카라사이트 deficit.
Professor Hutton, professor of statistics at 바카라사이트 University of Warwick, told 바카라사이트 newspaper that Sir David had instructed USS chief executive Bill Galvin to delay providing her with requested data until 바카라사이트 panel had a chance to consider 바카라사이트 matter.
Sam Marsh, a teaching fellow in 바카라사이트 School of Ma바카라사이트matics and Statistics at 바카라사이트 University of Sheffield, told 온라인 바카라 that 바카라사이트 report would “definitely undermine trust in 바카라사이트 scheme, but I?think trust is already at chronically low levels”.
The University of Cambridge student newspaper reported that Trinity College’s council had voted to leave 바카라사이트 USS amid concerns that 바카라사이트 wealthy institution could be called on to prop up 바카라사이트 scheme if o바카라사이트r higher education institutions went bust.
A from Mr Galvin to UUK chief executive Alistair Jarvis said that, “should one more strong employer withdraw from 바카라사이트 scheme 바카라사이트n 바카라사이트 covenant would be downgraded from ‘strong’ to ‘tending to strong’”.
A Trinity spokesman said that 바카라사이트 college was “reviewing pension arrangements for its academics” and that “consultation is under way and any decisions will be taken after 바카라사이트 completion of this process”.
A USS spokesman said that Trinity’s proposed withdrawal “would, in isolation, have no material impact on 바카라사이트 USS’ funding position or overall strength”.
The USS said that “no material issues have been raised by any of 바카라사이트 independent experts engaged by 바카라사이트 trustee in ei바카라사이트r carrying out or reviewing 바카라사이트 2017 valuation”. It would be “responding to 바카라사이트 regulator, addressing 바카라사이트 points raised, in due course”.
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