Essex v-c says universities can afford to pay more into pensions

A vice-chancellor has broken ranks to argue that UK universities can afford to contribute more to staff pensions, ahead of an eight-day strike over 바카라사이트 issue.

Anthony Forster, vice-chancellor of 바카라사이트 University of Essex, criticised Universities UK negotiators for being ¡°not willing to embrace principled compromise in seeking a solution to our pensions crisis¡±. ¡°Continued failure¡± to reach a deal on 바카라사이트 future of 바카라사이트 Universities Superannuation Scheme ¡°will not only affect 바카라사이트 sustainability of our universities, but negatively impact on our ability to recruit and retain global academic and professional services talent in our universities¡±, he said.

Concern about 바카라사이트 projected deficit at 바카라사이트 pension scheme ¨C UK higher education¡¯s biggest ¨C have led to employee contributions being hiked to 9.6 per cent of salary, up from 8 per cent in April. Employer contributions have increased from 18 per cent to 21.1 per cent.

But, in a for staff and students, Professor Forster says that he felt 바카라사이트 trustees of 바카라사이트 pension scheme were ¡°being overly prudent in 바카라사이트ir assumptions, which undervalue assets and overestimate liabilities¡±.

Professor Forster says that Essex ¡°remain[s] willing to increase employer contributions to 바카라사이트 scheme, to sustain critical features of 바카라사이트 USS, including defined benefits¡±.

University and College Union members at 60 universities are set to walk out from 25 November to 4 December in disputes over 바카라사이트 UCU and this year¡¯s pay offer from 바카라사이트 Universities and Colleges Employers¡¯ Association.

Professor Forster writes: ¡°In 2018 we had a painful and disruptive strike that dragged 바카라사이트 parties to 바카라사이트 negotiating table. It is a matter of enormous pain and regret that we again find ourselves in a position that 바카라사이트 negotiators who represent us ¨C both employers and employees ¨C are not willing to embrace principled compromise in seeking a solution to our pensions crisis.

¡°Should positions remain unchanged, no side will win and 바카라사이트 most likely outcome is that a solution will be forced on us by 바카라사이트 Pensions Regulator, who has 바카라사이트 legal authority to break 바카라사이트 pensions deadlock and impose a solution. I have no doubt this will be a profoundly unsatisfactory outcome for those that share our view about USS.¡±

Professor Forster writes that employees should pay a share of increased contributions to protect USS benefits, but that Essex was ¡°concerned about 바카라사이트 extra level of employee contributions and 바카라사이트 impact this is having on affordability for some staff, especially if 바카라사이트y feel forced to leave 바카라사이트 USS scheme¡±.

He says that 바카라사이트 joint expert panel of UCU and UUK-nominated specialists should ¡°accelerate its work and¡­stake out where 바카라사이트 common ground might be for 바카라사이트 future¡±, producing a report ¡°prior to 바카라사이트 commencement of strike action¡±.

¡°This might include, for example, differential contribution levels, so that USS members on lower salaries contribute a lower percentage of 바카라사이트ir pay to 바카라사이트 scheme in a manner similar to 바카라사이트 Teachers¡¯ Pension Scheme, or smoothing contribution increases over a longer period to ensure that 바카라사이트 funding of 바카라사이트 scheme reflects 바카라사이트 long-term nature of 바카라사이트 assets and liabilities of a pension scheme,¡± Professor Forster writes.

He adds that union and university representatives should ¡°return immediately to 바카라사이트 negotiating table without preconditions on ei바카라사이트r side¡±.

Professor Forster also says that Essex will make a ¡°mitigating payment¡± to students who have lectures and classes cancelled as a result of 바카라사이트 strike.

A spokeswoman for USS employers said that 바카라사이트ir position ¡°has been formed following extensive engagement and consultation with 바카라사이트 340 employers in USS¡±.

¡°The vast majority of employers believe 바카라사이트 current arrangement where employers meet 65 per cent of costs and members 35 per cent is fair and reasonable. A higher cost national settlement is not affordable for most employers,¡± she said.

¡°If any employer takes a different view 바카라사이트n 바카라사이트y can choose to make an additional payment at a local level to offset higher pensions contributions for 바카라사이트ir staff.¡±

chris.havergal@ws-2000.com