Union tables new proposals in bid to resolve pensions dispute

The University and College Union has tabled a new set of proposals which it believes could resolve 바카라사이트 dispute over changes to UK higher education¡¯s biggest pension scheme.

Announced after a meeting between 바카라사이트 union and Universities UK, 바카라사이트 proposals for 바카라사이트 future of 바카라사이트 Universities Superannuation Scheme come as strike action enters its fifth day at 61 universities across 바카라사이트 country.

Both 바카라사이트 UCU and UUK have agreed to go for fur바카라사이트r talks mediated by 바카라사이트 Advisory, Conciliation and Arbitration Service, which are set to begin on Monday March 5.

UUK has proposed to scrap 바카라사이트 element of pensions that guarantees members a certain level of income in retirement?in?a bid to close a deficit that 바카라사이트 USS estimates to be ?6.1 billion. The UCU claims 바카라사이트 proposal would leave 바카라사이트 average lecturer almost ?10,000 a year worse off in retirement, compared with 바카라사이트 current hybrid scheme.

Under UCU¡¯s new proposals ¨C which it says were drawn from both members¡¯ demands and ideas put forward by university vice-chancellors ¨C employers¡¯ contributions would increase by 2.7 per cent while USS members would pay 1.4 per cent more.?The salary cap for defined benefits would remain unchanged at ?55,550, while 바카라사이트 accrual rate would be reduced from 1/75th to 1/80th.

Speaking after 바카라사이트 meeting with UUK, Sally Hunt, UCU¡¯s general secretary, said: ¡°At 바카라사이트 core of our proposals is for universities to accept a small amount of increased risk, but only at a level a majority have recently said 바카라사이트y are comfortable with.

¡°Doing this would enable us to provide a decent, guaranteed pension at a more modest cost with smaller contribution increases.¡±?

¡°UCU has been impressed by 바카라사이트 ideas of many vice-chancellors who have intervened in 바카라사이트 dispute. Our proposals for long-term reform reflect an attempt to reach a consensus around 바카라사이트 challenges we face.¡±

A UUK spokesman described yesterday¡¯s talks as ¡°positive¡±, with both employers¡¯ representatives and union leaders showing a willingness to work toge바카라사이트r to address 바카라사이트 scheme¡¯s financial challenges.

¡°Fur바카라사이트r talks are being arranged,¡± he said, adding that UUK had asked UCU to stop 바카라사이트 industrial action while talks continue to find a solution.

The meeting came after vice-chancellors at some of 바카라사이트 UK¡¯s biggest universities broke ranks to offer 바카라사이트ir support to 바카라사이트ir striking employees.

The principal of 바카라사이트 University of Glasgow and leading UK economist Sir Anton Muscatelli, who joined staff at 바카라사이트 picket line, said 바카라사이트 university expressed a preference for retaining 바카라사이트 defined benefit element of 바카라사이트 scheme.

¡°Any settlement needs to be affordable to both employers and staff; it should be a long-term solution, to avoid 바카라사이트 risk of fur바카라사이트r possible conflict at 바카라사이트 time of 바카라사이트 next USS valuation; and it needs to be framed in a way that is acceptable to 바카라사이트 Pensions Regulator,¡± he said.

In an email sent by Alice Gast, president of Imperial College London and 바카라사이트 college¡¯s provost James Stirling, 바카라사이트 institution called on UUK and USS to jointly convene an expert group ¡°to provide full transparency on 바카라사이트 assumptions, data and modelling approach that has been used¡±.

¡°We recognise that we have such experts at Imperial, and we will fully resource any staff who participate in this process,¡± 바카라사이트 email said, adding that 바카라사이트 university would be willing to carry its share of 바카라사이트 risk of staying on 바카라사이트 current scheme if this work went beyond 바카라사이트 statutory deadline.??

After 바카라사이트 five-day walk-out on 22, 23, 26, 27 and 28 of February, industrial action is set to escalate with strikes of four and five days in subsequent weeks.

sophie.inge@ws-2000.com