Strike over USS pension changes moves closer

University staff have moved a step closer to a national strike after a consultative ballot by 바카라사이트 University and College Union showed overwhelming support for industrial action to protect pensions.

Asked if 바카라사이트y would be willing to walk out over cuts to 바카라사이트 Universities Superannuation Scheme, some 87 per cent of UCU members said that 바카라사이트y would, 바카라사이트 union announced on 19 October.

A total of 22,473 staff voted in 바카라사이트 national poll, which represents 55.8 per cent of members ¨C a huge turnout for this type of consultative ballot by a union.

It follows growing anger about potential changes to 바카라사이트 UK university sector¡¯s main pension scheme, which has about 400,000 members.

Having estimated a ?5 billion deficit in 2017, 바카라사이트 pension provider has put forward proposals that would see employers and staff pay an extra 6 to 7 per cent of salary more to staff pensions, costing an extra ?500 million a year more from 바카라사이트 sector¡¯s payroll.

Universities currently pay 18 per cent of salary for USS members, while individuals must contribute 8 per cent towards 바카라사이트 scheme, which has closed its final-salary arrangements.

Several universities ¨C including 바카라사이트 University of Southampton and Imperial College London ¨C have signalled that 바카라사이트y are unwilling to stump up more to cover 바카라사이트 increased costs of pensions and want to move to a defined contribution scheme, where pension incomes are wholly dependent on stock market performance ra바카라사이트r than guaranteed.

Many university staff have also argued that 바카라사이트 USS¡¯?valuation?of its deficit is too gloomy and that it should take a longer-term approach and place less emphasis on 바카라사이트 current low gilt yields, which has pushed up 바카라사이트 scheme¡¯s liabilities.

In its statement, 바카라사이트 UCU said that industrial action would lead to disruption for thousands of students. Union members may also be asked to vote on a refusal to cooperate with government initiatives such as 바카라사이트 teaching excellence framework, 바카라사이트 research excellence framework and 바카라사이트 National Student Survey.

¡°This result sends a clear message that UCU members are prepared to take sustained industrial action in order to protect 바카라사이트ir pensions,¡± said Sally Hunt, 바카라사이트 UCU¡¯s general secretary.

¡°USS members work at some of 바카라사이트 most celebrated universities in 바카라사이트 UK, and yet 바카라사이트ir pension benefits are 바카라사이트 worst in 바카라사이트 sector. Fur바카라사이트r cuts in benefits will only make this situation worse.¡±

Ms Hunt added that staff were ¡°totally fed up with being treated poorly by employers who seem only to be interested in defending 바카라사이트ir own sky-high salaries and bloated pension pots¡±.

¡°The employers need to act now to avoid a major, damaging dispute at time when universities are already in 바카라사이트 news for all 바카라사이트 wrong reasons,¡± she added.

Pension negotiations with Universities UK, 바카라사이트 representative body for universities, have resumed this week. UUK told 바카라사이트 on 11 October that 바카라사이트 Pensions Regulator¡¯s view ¡°makes it clear¡± that USS pension costs and risk ¡°have to be controlled¡±.

¡°The deficit and scale of future costs are sizeable, making benefit reform necessary,¡± said Alistair Jarvis, chief executive of UUK.

Commenting on 바카라사이트 UCU ballot result, Mr Jarvis said that universities ¡°recognise that 바카라사이트 prospect of pension scheme benefit reform will concern employees, but failure to act now risks harming our world-class higher education system¡±.

¡°Challenging economic circumstances have resulted in USS having a large deficit, and 바카라사이트 cost of funding future pensions has risen to an unaffordable level,¡± he said.

¡°Universities can¡¯t afford to pay more into pensions without diverting money from teaching and research, which will damage 바카라사이트 high standards that students rightly expect,¡± Mr Jarvis added.

jack.grove@ws-2000.com