Redressing the balance: Employer stances on UUK proposal re USS

We warmly welcome the public statements made in support of staff pensions by Warwick and Glasgow Universities. It is clear that the very detrimental proposed changes are not supported unanimously within UUK, nor do all employers consider the current proposal to be necessary.


The current UUK proposal is to move USS from a defined benefits scheme (determined and guaranteed by your ‘career average’ earnings) to a defined contribution scheme (where your money is no longer guaranteed, but dependent on the stock market investments at the point at which you retire).
The VC at Warwick states that he is ‘mystified’ at the stance taken by UUK, and that Whatever happens we will not let the current increasingly conservative approach to USS go unchallenged’:


The University of Glasgow has stated that it would prefer to keep a Defined Benefits Scheme and ‘The University believes that its interests are aligned with those of the UCU and that all parties should work together constructively to identify a solution. It is, of course, for members of UCU to decide how they vote in the ballot.’