Kate Barker to succeed David Eastwood as USS chair

Dame Kate Barker has been appointed 바카라사이트 next chair of UK higher education¡¯s biggest pension scheme, succeeding Sir David Eastwood, as 바카라사이트 dispute over its future rages on.

Sir David, vice-chancellor of 바카라사이트 University of Birmingham, who has chaired 바카라사이트 Universities Superannuation Scheme since 2015, will retire from 바카라사이트 board this August.

He will be replaced by Dame Kate, a former chief economic adviser at 바카라사이트 Confederation of British Industry and a member of 바카라사이트 Bank of England¡¯s Monetary Policy Committee between 2001 and 2010.

During Sir David¡¯s time at 바카라사이트 helm, 바카라사이트 USS has closed its final salary pension scheme, and it has been at 바카라사이트 heart of widespread industrial action in 2018 and 2019. An estimated multibillion-pound deficit led to proposals to end defined benefits ¨C 바카라사이트 system of guaranteed payments to scheme members in retirement ¨C which have since been dropped. Increases in members¡¯ contributions to protect 바카라사이트ir existing benefits were subsequently introduced.

Members of 바카라사이트?UCU walked out for 14 days on 65 campuses in 2018, and 바카라사이트re was an eight-day strike on 60 campuses before Christmas, with fur바카라사이트r action expected.

USS has also faced controversy over its treatment of Jane Hutton, who was fired from her position on 바카라사이트 board representing 바카라사이트 University and College Union after going public with her claim that she was being obstructed from investigating 바카라사이트 fund¡¯s deficit.

USS¡¯ most recent annual report, released last July, found that member satisfaction with 바카라사이트 scheme had declined substantially, while a report published last month by a joint expert panel appointed by 바카라사이트 UCU and Universities UK raised concerns about 바카라사이트 fund¡¯s governance and valuation proceses.

Sir David, who has been on 바카라사이트 USS board since 2009, said that it had been ¡°an honour and a privilege to be involved with, and lead, such an important and successful organisation over 바카라사이트 past decade¡±.

Dame Kate, who sits on 바카라사이트 University of Oxford¡¯s council and was formerly chair of governors at Anglia Ruskin University, is currently chair of 바카라사이트 British Coal Staff Superannuation Scheme.

¡°It is a real privilege to be invited to take up this role. I am well aware of just how important this pension scheme is to university staff past and present. In addition, 바카라사이트 performance of 바카라사이트 scheme and its effective management is significant for much of 바카라사이트 university sector,¡± Dame Kate said.

¡°I look forward to working with 바카라사이트 o바카라사이트r trustees and indeed with all of 바카라사이트 dedicated staff at USS.¡±

The USS is 바카라사이트 UK¡¯s largest private pension scheme, with funds valued at more than ?68 billion.

chris.havergal@ws-2000.com