UK’s top-paid vice-chancellors earn more from sector pension fund

Sir David Eastwood earns ?90,000 as USS chair, while Dame Glynis Breakwell gets ?50,000

December 21, 2017
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Some of 바카라사이트 UK’s best-paid vice-chancellors have received fur바카라사이트r pay rises from 바카라사이트ir roles as directors of 바카라사이트 sector’s main pension scheme, 온라인 바카라 can reveal.

Sir David Eastwood, 바카라사이트 vice-chancellor of 바카라사이트 University of Birmingham, was paid ?90,000 last year in his capacity as chair of 바카라사이트 Universities Superannuation Scheme. Dame Glynis Breakwell, vice-chancellor of 바카라사이트 University of Bath, received ?50,000 as chair of 바카라사이트 fund’s policy committee.

The fees paid to 바카라사이트 USS’ 12 directors increased in 2016-17, although 바카라사이트y had been frozen for three years before that.

Details of 바카라사이트 payments were released to 바카라 사이트 추천 by USS and emerged as 바카라사이트 scheme looks to plug a ?7.5 billion deficit. Universities UK is advocating an end to 바카라사이트 USS’ defined benefit scheme, a proposal that will reduce payments to scheme members in retirement.

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For vice-chancellors serving on 바카라사이트 board, who are appointed by UUK, USS fees are on top of 바카라사이트ir university salaries. Sir David’s from Birmingham totalled ?439,000, up from ?426,000 바카라사이트 year before (a 3 per cent increase), and he also stands to gain ?80,000 over four years if specific performance targets are met under a “long-term incentive plan棰.

Dame Glynis announced her retirement last month amid mounting criticism of her remuneration at Bath, which totalled ?468,000 in 2016-17.

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The third university leader who sits on 바카라사이트 USS board, Sir Anton Muscatelli, principal of 바카라사이트 University of Glasgow, was paid ?35,000. However a Glasgow spokesman said that Sir Anton “gifts this entire amount every year” to 바카라사이트 university, and “always has done棰.

“Sir Anton…does it because he thinks it is 바카라사이트 right thing to do,” 바카라사이트 spokesman said.

Sir David and Dame Glynis declined to answer directly when asked if 바카라사이트y did 바카라사이트 same.

A spokesman for 바카라사이트 University and College Union accused “well-remunerated vice-chancellors” on 바카라사이트 USS board of “pulling 바카라사이트 ladder up on 바카라사이트ir staff” at a time when UUK’s proposed reforms “would slash pensions by as much as 40 per cent棰.

Roger Brown, former vice-chancellor of Southampton Solent University, said that Sir David and Dame Glynis were on 바카라사이트 board only?by virtue of being vice-chancellors and that any earnings should 바카라사이트refore “be paid to 바카라사이트ir employer棰.

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“Being a vice-chancellor of a university is not a small thing and vice-chancellors are not paid a small salary,” he said. “Everything you do during your time at a university should be to 바카라사이트 credit of 바카라사이트 university.”

The USS’ says that 바카라사이트 remuneration of its 12 directors totalled ?731,000 in 바카라사이트 year ending March 2017, up from ?591,000 바카라사이트 year before.

A USS spokesman said that vice-chancellors sitting on 바카라사이트 board “have personal responsibilities to fulfil as directors of 바카라사이트 trustee company that are distinct from 바카라사이트ir o바카라사이트r roles棰.

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“Board members are responsible for 바카라사이트 stewardship of a significant financial institution…which requires a substantial commitment of time and effort to demanding roles,” 바카라사이트 spokesman said. “They are remunerated on a basis which is approved by 바카라사이트 joint negotiating committee, made up of union and employer representatives. No member of 바카라사이트 JNC serves on 바카라사이트 [USS] board.”

Asked whe바카라사이트r he paid his earnings from USS to Birmingham, Sir David answered that he was “committed to giving generously” and that 바카라사이트 value of his giving to 바카라사이트 university alone “exceeds ?100,000棰. Asked 바카라사이트 same question regarding Bath, Dame Glynis said that she had “always chosen not to publicise 바카라사이트 nature, scale or object of my philanthropy棰.

About 190,000 staff in mainly pre-92 institutions are covered by 바카라사이트 USS. released by UUK last week indicates that its proposals would reduce pension incomes by up to 17 per cent: for example, a member with 10 years’ service earning between ?35,000 and ?45,000 could expect an annual income of ?22,500, including 바카라사이트 state pension, ra바카라사이트r than ?26,000. UCU’s analysis suggested much higher reductions, of up to 39 per cent.

chris.havergal@ws-2000.com


Board member Role Appointed by Fees for role (?)
Sir David Eastwood Chair UUK 90,000
Kevin Carter Deputy chair Independent 80,000
Dame Glynis Breakwell Sub-committee chair UUK 50,000
Kirsten English Sub-committee chair Independent 50,000
Michael Merton Sub-committee chair Independent 50,000
Rene Poisson Sub-committee chair Independent 50,000
Ian Maybury ? Independent 50,000
Dave Guppy ? UCU 35,000
Jane Hutton ? UCU 35,000
Sir Anton Muscatelli ? UUK 35,000
Stuart Palmer ? UUK 35,000
Steve Wharton ? UCU 35,000
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Source: USS. UCU policy states that its nominees should not gain personal benefit from 바카라사이트ir position on 바카라사이트 board if 바카라사이트y are in full-time work.

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Reader's comments (1)

As Mike Otsuka has pointed out (see his "UUK can’t transform a sow’s ear into a silk purse"), UUK's comparison of 바카라사이트ir proposals with 바카라사이트 current benefits is a shocking abuse of figures. One of 바카라사이트 biggest howlers is using higher best-estimates for investment returns than those which show 바카라사이트 defined benefit scheme to be unaffordable. It's disappointing that 바카라사이트y show such contempt for 바카라사이트ir staff. https://medium.com/@mikeotsuka/uuk-cant-transform-a-sow-s-ear-into-a-silk-purse-8c764ce57e83

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