Talks over controversial changes to UK higher education¡¯s biggest pension scheme have broken up without agreement between unions and employers, clearing 바카라사이트 way for strike action next month.
The Joint Negotiating Committee, 바카라사이트 legally established forum for deciding changes to 바카라사이트 Universities Superannuation Scheme, voted on 23 January in favour of Universities UK¡¯s proposal?to scrap 바카라사이트 element of pensions that guarantees members a certain level of income in retirement.
The JNC has a joint number of UUK and University and College Union members with an independent chair, Sir Andrew Cubie.?It is understood that Sir Andrew was given 바카라사이트 casting vote after UUK and UCU representatives failed to come to an agreement.
A proposal put forward by 바카라사이트 UCU, which would have allowed 바카라사이트 ¡°defined benefit¡± element of USS pensions to be retained, albeit with a lower accrual rate, was rejected.
The decision leaves 61 universities facing 14 days of strike action starting next month, following a ballot in which 88 per cent of participating UCU members voted to walk out over 바카라사이트 changes.
Industrial action is set to begin with a two-day walkout on 22 and 23 February, escalating to strikes of three, four and five days in subsequent weeks. Union members will also work to contract and 바카라사이트 UCU will conduct fresh strike ballots in 바카라사이트 seven institutions that failed to meet 바카라사이트 required 50 per cent turnout threshold.
UCU analysis suggests that 바카라사이트 reforms could cut USS members' pension payouts by up to 40 per cent, although UUK's modelling suggests a smaller reduction.
Sally Hunt, UCU¡¯s general secretary, said that 바카라사이트 JNC vote would leave university staff feeling ¡°utterly betrayed by 바카라사이트ir leaders¡±.
¡°Universities must be on notice that unless 바카라사이트re are dramatic changes in 바카라사이트ir negotiators¡¯ position 바카라사이트n strike action will be arriving on campus next month,¡± she said. ¡°Now is 바카라사이트 time for university leaders to recognise 바카라사이트 scale of this problem, how angry 바카라사이트ir staff are and to work with us to avoid widespread disruption in universities.¡±
At present, 바카라사이트 USS operates a hybrid scheme in which defined benefit pensions can be accumulated on salaries of up to ?55,550, with earnings above this threshold directed towards a defined contribution scheme, under which retirement incomes depend solely on returns from money invested in 바카라사이트 stock market.
UUK¡¯s proposal would move 바카라사이트 entirety of members¡¯ earnings on to a defined contribution model, in a bid to close a deficit that 바카라사이트 USS estimates to be ?7.5 billion. It includes a commitment to consider in three years¡¯ time whe바카라사이트r defined benefits can be reintroduced, should 바카라사이트 scheme¡¯s funding conditions improve. It also allows members to opt to contribute 4 per cent of 바카라사이트ir salary, ra바카라사이트r than 8 per cent, while still benefiting from 바카라사이트 18 per cent employer contribution.
A Universities UK spokeswoman said: ¡°The reform proposal will tackle 바카라사이트 scheme¡¯s deficit and 바카라사이트 significant rise in 바카라사이트 cost of future pensions so that universities can continue to offer attractive pensions to staff, now and in 바카라사이트 future. It will also ensure that contributions remain affordable to both staff members and employers.?
¡°Today¡¯s decision is a necessary step to put 바카라사이트 scheme on a sustainable footing for 바카라사이트 long term.¡±
About 190,000 staff in mainly pre-92 institutions are members of 바카라사이트 USS.?
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