To help keep our staff informed about the ongoing pensions discussions, we will regularly update staff with related information and articles. Our aim is to create a space where staff can educate themselves about the ongoing pensions discussions. The views contained within external sources do not necessarily represent the views of the University.
Staff can view the proposals from Universities Superannuation Scheme (USS) here.
As a University, we have responded as follows to the UUK consultation with employers:
- We recognise the need to create long term sustainability for the pension scheme, and support the current process to tackle this challenge
- We support the principle of retaining employer and employee contribution at or very close to current levels
- In the absence of any alternative, viable proposals, we see the merits of a hybrid scheme to provide a flexible solution maintaining a significant defined benefit pension element.
- We recognise that the transitioning arrangements have to be very carefully thought through, ensuring that staff close to retirement or making retirement plans are protected as far as possible in any changed arrangements
- We would want to see the threshold for any cap set as high as is affordable
- Given the early stage in the process, we believe that UCU plans for industrial action are premature