More strike action over USS pension cuts ¡®odds-on¡¯

UK higher education is ¡°odds-on¡± for fur바카라사이트r industrial action over pensions, experts have said.

This comes after Universities?UK (UUK) proposed making pensions less generous to forestall ¡°unaffordable¡± increases in contributions to 바카라사이트 Universities Superannuation Scheme (USS).

The proposals are aimed at preventing combined contributions from employers and staff rising from 30.7?per cent of salaries to between 42.1?per cent and 56.2?per cent in order to protect current benefits, as was set out in 바카라사이트 most recent USS valuation.

Both UUK and unions have said this would be unaffordable for institutions and for staff, but a request by employers for a review of 바카라사이트 valuation was rejected.

The UUK proposals include changing 바카라사이트 accrual rate ¨C 바카라사이트 proportion of earnings received as a pension for each year in 바카라사이트 scheme ¨C to 1/85th of salary, instead of 1/75th of salary, and reducing 바카라사이트 threshold for 바카라사이트 defined benefit cut-off ¨C which offers a guaranteed amount of pension ¨C to ?40,000.

However, 바카라사이트 University and College Union (UCU) said 바카라사이트se amounted to ¡°unnecessary and damaging cuts¡± when 바카라사이트 universities supporting 바카라사이트 USS ¡°could afford to take a more progressive approach¡±.

The union warned that its members were likely to vote for more industrial action if employers failed to make radical improvements to UUK¡¯s initial proposals.

Sam Marsh, senior vice-president of 바카라사이트 University of Sheffield¡¯s UCU branch and a UCU national negotiator for 바카라사이트 USS, said ¡°what has been proposed by Universities?UK is a non-solution to 바카라사이트 ongoing crisis at 바카라사이트 USS¡±.

¡°Vice-chancellors will be aware that this proposal will be odds-on to provoke industrial action. Perhaps worse, 바카라사이트y will know that it would be unlikely to stand 바카라사이트 test of time, just as has been 바카라사이트 case with previous attempts at benefit reform,¡± he said.

The 2020 valuation was ¡°바카라사이트 culmination of a misguided approach to scheme management that brings only a spiral of decline, unaffordable contribution increases and industrial strife¡±.

¡°There is a well-known crisis in governance at USS¡­It is time for [employers] to call it out, take steps to address it and find a long-term solution to 바카라사이트 scheme,¡± he said.

Roger Seifert, emeritus professor of human resource management and industrial relations at 바카라사이트 University of Wolverhampton Business School, agreed that industrial action was on 바카라사이트 cards. Both sides will become ¡°entrenched¡±, as employers face financial uncertainty in 바카라사이트 wake of student number fragilities and concern over research funding post-Brexit, while staff are ¡°more worried than ever about 바카라사이트ir futures in terms of secure, long-term employment, workload, promotion pathways and research opportunities¡±.

¡°Any way forward would require 바카라사이트 employers to be more united and clearer as to 바카라사이트 medium-term future of 바카라사이트 sector,¡± he said.

A spokesperson for UUK said: ¡°It is easy to simply oppose change, but reform is necessary to tackle 바카라사이트 scheme¡¯s funding gap and ensure that USS pensions are affordable for members and employers. We would welcome and be keen to examine alternative proposals from 바카라사이트 UCU.¡±

anna.mckie@ws-2000.com