The University is very close to a decision on the future of PASNAS following the consultation and this SUSSED post is an update on progress.
The full consultation feedback was presented to Council on 14 March and discussed at the University Executive Board (UEB) in March and April.
After considering in detail all the feedback from staff and union representatives, several options were subsequently developed. We have continued to work with Unison and Unite who have been involved in discussions around these options.
On 17 April, the UEB recommended that the original proposal be revised to protect current members, so they remain in the PASNAS final salary scheme, and that PASNAS should close to new members from 1 January 2019 subject to ratification by Finance Committee and Council. On 24 April, the Finance Committee considered the UEB’s recommendation and agreed that a closure to new members should be presented to Council on 9 May for approval.
If these recommendations are agreed at Council, this would mean current members of the scheme will remain in PASNAS with no changes to their benefits. The PASNAS triennial valuation will take place on 31 July and, as suggested in the consultation responses, we will look at the implications for future employer and employee contribution rates later in 2019.
From 1 January, eligible staff joining the University will be enrolled in a new Defined Contribution (DC) scheme, the design of which has been revised based on your feedback. We will share more details after Council have considered the recommendations.
Thank you to all staff for their patience whilst a decision is made. We have taken into consideration all of the comments received as part of the consultation.
Members and eligible members were sent an email today (27 April) from Ian Dunn, Chief Operating Officer outlining the above and we will write to them again after Council on 9 May with the final decision on changes to PASNAS.
Further information about the PASNAS consultation can be found on the Finance intranet site here.
