Category: Pensions

Pensions update April 2016

Despite considerable objections by UCU members, the USS Pensions Scheme is changing, starting in April 2016. Further information on these changes can be found at the main UCU site. UCU is negotiating on your behalf on the latest changes to the USS Pensions Scheme

Previously:

Members of the Universities Superannuation Scheme (USS) had been in dispute with their employers after the umbrella group, Universities UK, tabled detrimental changes to USS pension benefits in autumn 2014.

UCU members have voted to accept new proposals for their pensions and not restart a marking and assessment boycott at 69 UK institutions. Two-thirds (67.1%) of those who voted agreed to accept the new proposals.

Pensions campaign

USS changes 2015-16

Members will have seen communications confirming the ballot outcome and the ending of the USS dispute. A candid report from the negotiators is also available (Appendix of UCUHE/241, PDF)

Imperial College has strongly criticised the deficit valuation methodology as have some other universities, UCU and independent analysis by First Actuarial and the respected education newspaper The Times Higher Education