Some students have been asking us for more information about the current pension dispute in the HE sector, so I’ve posted below (a slightly edited version of) a statement produced by UCU, the University & College Union.
Thank you for taking the time to find out about this issue.
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USS is a pension fund set up to provide a decent retirement for UK university staff. Now these pensions are under attack.
Employers want to end guaranteed pension benefits so that final pensions would instead depend on how the stock market performs. That means huge uncertainty and a reduced retirement income for all staff. A typical lecturer would lose £10,000 a year in retirement.
[Employers claim that the current guaranteed pension is unaffordable to them, but many experts, such as Emeritus Professor of Economics Dennis Leech, disagree with this: https://blogs.warwick.ac.uk/dennisleech/entry/is_the_uss_1_2/]
The union has repeatedly tried to negotiate with employers but to no avail. So now many staff feel they have no choice but to strike. 88% of UCU members who voted supported this strike in a legal ballot.
Striking is always a last resort. Staff would rather not strike if at all possible. They want to teach and make sure you get the education you deserve. But without the security of a decent pension, staff will simply leave the sector over time. This attack on USS will make the scheme less attractive than those available in the ‘new’ universities or in schools and colleges.
So this is also a strike to defend your education and the education of future generations of students.
Here is how you can help:
- Tell staff you support their fight
- Join the student demonstrations on strike days
- Join UCU for free if you’re a postgraduate who teaches: https://www.ucu.org.uk/free
- Write to your university’s Vice Chancellor or President about this issue.
Thank you.
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