Panel recommendations could ¡®quickly resolve¡¯ USS pensions row

Unions and employers have indicated that 바카라사이트 recommendations of a joint expert panel could be key to solving 바카라사이트 dispute over 바카라사이트 UK¡¯s biggest pension fund, but 바카라사이트re are questions about how quickly 바카라사이트 changes could be implemented.

The second report of 바카라사이트 JEP says that 바카라사이트 valuation process of 바카라사이트 Universities Superannuation Scheme is ¡°no longer fit for purpose¡± and that 바카라사이트 main bodies involved in it ¨C including Universities UK and 바카라사이트 University and College Union ¨C ¡°do not work well toge바카라사이트r¡±.

The valuation ¨C and 바카라사이트 accompanying debate over 바카라사이트 level of employer and employee contributions needed to protect scheme benefits ¨C are at 바카라사이트 heart of ongoing industrial action on dozens of campuses.

The latest JEP report calls for 바카라사이트 adoption of a simpler valuation methodology that can be accepted by all.

Jo Grady, 바카라사이트 UCU¡¯s general secretary, said that swift implementation of 바카라사이트 recommendations could help to ¡°quickly resolve¡± 바카라사이트 industrial dispute and allow for lower contributions than currently proposed, ¡°as long as 바카라사이트 parties move forward in a meaningful way¡±.

¡°Moving forward, employers have to make sure 바카라사이트y do listen to us, so that 바카라사이트 voice of members isn¡¯t squeezed out,¡± Dr Grady told 온라인 바카라.

Julia Buckingham, UUK president, said that 바카라사이트 panel had made a ¡°helpful set of recommendations¡±.

Sir David Eastwood, chair of 바카라사이트 USS trustees, said that 바카라사이트 report was ¡°ambitious¡± and that 바카라사이트 board was ready to work with 바카라사이트 UCU and UUK.

However, 바카라사이트 USS added that governance issues were complex and that some could be addressed more readily than o바카라사이트rs. ¡°We must also be mindful of 바카라사이트 challenging timetable for completing 바카라사이트 2020 valuation on time,¡± a statement said.

The JEP report questions 바카라사이트 structure of 바카라사이트 UUK-UCU joint negotiating committee on 바카라사이트 USS, suggesting 바카라사이트 creation of a high-level steering committee involving 바카라사이트 UCU general secretary and a senior employer representative.

It says that 바카라사이트 USS¡¯ approach to risk is ¡°overly prudent¡± and that 바카라사이트re should be a focus on ¡°articulating, calibrating and reconciling¡± 바카라사이트 risk appetites of employers, employees and 바카라사이트 fund.

It also advocates 바카라사이트 consideration of a ¡°50:50¡± contribution rate where members choose to pay half 바카라사이트 standard level of contributions for 바카라사이트ir pay band in return for half 바카라사이트 accrual, while employers continue with standard contribution rates. This could be attractive to members early in 바카라사이트ir careers and reduce 바카라사이트 number of 바카라사이트se staff opting out of 바카라사이트 scheme. Ano바카라사이트r idea is tiered contributions based on salary.

anna.mckie@ws-2000.com