USS pensions – negotiations outcome

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From email to members from branch president Ben Plumpton Employers have voted (22 August) to increase our USS pension contributions from 8.8% of salary now (8% until recently) to 9.6% in October and 11% next October. They have rejected the key finding of Joint Expert Panel (which they set up with UCU) that there is no need to increase pension contributions to keep the scheme in good health. UCU has a brilliant negotiating team, chaired by our own Vicky Blake and including the great Sam Marsh from Sheffield, who worked long and tirelessly to avoid this outcome. They tried extremely hard to persuade the employers to compromise and listen to the evidence, but the employers seem determined to force staff to pay more. The ‘independent’ chair’s casting vote at the USS Joint Negotiating Committee enabled the increased contributions proposal to be pushed through. It seems that the only language employers will pay attention to is strikes. So UCU will be balloting for industrial action in September/October. A strong ‘Yes’ vote may be enough to pull the employers back to negotiating properly. I think the employers know that strikes would be effective, because apparently they tried to get UCU to agree … continue reading

Open letter to all USS pension scheme members

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If you are a member of the USS pension scheme, whether you are a UCU member or not, you need to know what’s going on with the renewed dispute over USS. Here we want to challenge some of the employers’ analysis, and outline what we as a branch would like to see the university do in order to ensure that the USS scheme is managed in a way acceptable to its members, preserving Defined Benefits. The Valuation Central to the dispute over USS is the valuation of the scheme’s assets and liabilities. On a rolling programme, USS establishes whether the scheme is in surplus or deficit and adjusts contributions to reflect that. However, there is no fixed valuation methodology and, within reason, the scheme’s trustees can adopt many different ways of assessing the scheme’s assets and liabilities and, therefore, contribution rates. When strike action was called off in 2018, a Joint Expert Panel (JEP), comprising representatives of UCU and the employers and with an independent chair, was established to look at how the scheme operated. In its first report, it made seven recommendations for modifying the assumptions of the 2017 valuation, and both the employers and the union accepted these … continue reading

USS update

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USS caught misrepresenting the views of the pensions regulator + the pensions regulator itself is being investigated by a Parliamentary committee for its handling of whistleblowing from a USS trustee Our pension scheme is under unnecessary threat.  The 2018 pension strikes successfully challenged concerted efforts to fundamentally undermine our healthy defined benefit pension scheme and transfer it into a substandard defined contribution scheme. Our actions changed the debate, and the report of the Joint Expert Panel (JEP) vindicated UCU’s position.  UCU and the employers’ body UUK signed up to the JEP’s recommendations. This was a positive route forwards and out of dispute. Since then, the USS executive has put forward three ‘options’ to proceed, all of which fall short of the JEP recommendations and all of which would cost members more to get less in their retirement (see our recent [newsletter]).  USS has also been caught out misrepresenting the Pension Regulator’s position and neglecting to correct it while a consultation on these substandard options was being presented to employers. The employers’ body UUK will soon decide which option (if at all) it formally supports. All indications so far are such that UCU sadly expects our employers to side with USS, and … continue reading

Casework drop-in, Bradford College strikes, Environment Working group and more

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Text from all-members email sent 3 July 2019 Casework drop-in Weds 2 July, 12.30 – 2:30, 7.52 EC Stoner If there’s something you think you might need UCU support for, but aren’t sure, drop in for a chat with a caseworker. Our casework drop-ins are usually on the first Wednesday of each month. For serious matters where you will definitely need your own caseworker, don’t wait for a drop-in session, email ucu@leeds.ac.uk.  More about UCU support at  http://www.leedsucu.org.uk/support-and-benefits/  Supporting Bradford College UCU strikes Weds 3 – Fri 5 July Bradford College UCU are striking over job cuts and pay. The college intends to cut 131 jobs, and staff have had only one 1% pay rise in the last 11 years, which means their pay has declined by 25% in real terms. If you can support their picket line on your way to work that would be fantastic solidarity – look out for the Leeds UCU banner.  See  https://ucu.org.uk/article/10189/Three-day-walkout-at-Bradford-College-from-Wednesday?list=1676  Extraordinary General Meeting  Weds 10 July, 12 noon, Michael Sadler LG15 Concerned about any or all of: pensions, pay and equality, Head of School appointments, lecture capture, UniForum, discussion boards for in-course feedback, timetabling, or centralisation of admissions? Come and have your say at this … continue reading