Higher education pensions
Universities UK on collision course with unions, which warn reforms could cost members thousands of pounds annually in retirement
Union says vice-chancellors’ shake-up would leave staff thousands of pounds out of pocket annually, but universities say current benefits are unaffordable
Proposals put forward in consultation could reduce increase in contributions from about 50 per cent to 34.7 per cent, according to fund chief executive
Universities Superannuation Scheme will develop ‘meaningful short-, medium- and long-term targets’ towards carbon neutrality
Action is clearly needed to shore up the USS, but the trustee needs to be more flexible, says Alistair Jarvis
UCU negotiator says UUK’s latest proposals are unlikely to win support
Union warns that employers ‘have offered very little to dissuade members from voting for another round of industrial action’
In letter to vice-chancellors, Universities UK says it is ‘disappointed’ sector’s biggest pension fund will not conduct a review of controversial valuation
Universities UK raises concern about influence of regulator on fund’s valuation, while indicating possible reforms to benefits
‘Unaffordable’ contribution increases proposed by Universities Superannuation Scheme mean member benefits may be up for debate once more
Universities UK says increases are unaffordable for employers and risk pricing even more staff out of scheme
Vice-chancellors criticise level of contributions proposed by Universities Superannuation Scheme
Discussions about how the UK’s largest pension scheme covers its deficit ought to consider whether all employers and members should pay the same rate, argues Paul Hamilton
Universities call for members to have option to reduce their contributions in return for different benefits
Academics may wish we weren’t here, but burying heads in the sand about the depth of the deficit is no longer viable, says Bernard Casey
Pension scheme’s annual report shows relationship with members worsening amid ongoing dispute over contributions
UK higher education’s biggest pension fund says Covid-related uncertainty on financial markets added £7 billion to shortfall in space of two months
If universities don’t commit to underwriting a riskier investment strategy, pension contributions will have to rise sharply, says Bill Galvin
Money to be taken automatically from members’ bank accounts to support UK union’s strike fund
Universities’ divestment policies are undermined by the USS’ continued investment in oil companies, says Bill Spence
Members of the Universities Superannuation Scheme are about to vote on whether to lock in current members. But this might not be enough to safeguard the scheme’s solvency, says Bernard Casey
Concerns raised over pension scheme’s ability to judge its health after virus crisis market plunge
Radical changes may be on cards after stock market crash and interest rate cuts, say experts
Some members increasingly wary after 22 days of walkouts already this year, but many remain determined to win concessions from employers on pay and pensions
New documents show that economic downturn from coronavirus could lead to increased contributions
Negotiators ‘within reach of agreements’ as union cuts demands on pay rises and pension contributions, says general secretary
Leaked summary of report into Jane Hutton’s conduct on USS board says speaking to media ‘by no means a proportionate response’ when regulators were still investigating concerns
Union and employers refuse to make further concessions as 14 days of industrial action continue at 74 universities
Staff vent frustration that employers haven’t recognised the bigger picture behind the walkouts
Universities decline to make fresh offers on pay and pensions as union prepares for second round of industrial action
UCU faces debate over whether to compromise on demands over pay, pensions and working conditions
Striking again would rob students of vital lecture time and damage the progress we’ve made through bargaining, says one anonymous UCU member
Walkouts to escalate over February and March
Total number of union branches eligible to strike this year reaches 74
Birmingham v-c to step down from pension fund board this August
UCU says that universities should focus on solving dispute ‘instead of trying to spin their way out of this’
UCU, employers and USS will discuss the ongoing pensions row, following series of recommendations from expert panel
Strikes threaten to spill into the new year, as little progress made in dispute
Universities Superannuation Scheme cautions that making governance changes swiftly could be challenging
Strikes notwithstanding, more pay restraint and greater pensions contributions from UK staff seem unavoidable, writes Bernard Casey
Current approach is ‘overly restrictive’ and does ‘not appear appropriate for an open, strong scheme’
Ucea chair’s institution among those to decide against withholding salaries
Huge deficits emerge as universities start to publish 2018-19 accounts – but impact will be reversed next year
UCU says some universities are using ‘highly questionable tactics’ as strikes are set to enter their second week
Newcastle posts £44 million deficit after one-off USS charge, but sector’s results expected to rebound next year
Universities UK says some employees could ‘contribute less and get less benefit’ but academics say approach would ‘divide workers further’
Step comes as employers and union debate equality, casualisation and workload, without movement on pay offer
Thousands walk out, but universities say they expect ‘low to medium’ levels of disruption
After last year’s walkout over pensions, this year’s action is ‘part of something bigger’, say union members
Jo Grady says ‘a lot of’ university leaders want to strike a deal over contributions to Universities Superannuation Scheme
Anthony Forster criticises failure of negotiators to ‘embrace principled compromise’
V-c warns pension and pay strikes will damage whole sector but union members believe experience shows industrial action will force change
Staff will walk out at 60 universities starting from 25 November
About 1 million students set to be affected by walkout
MP calls for urgent investigation into dismissal of Jane Hutton as potential strike action nears
Warwick statistician Jane Hutton attacks lack of transparency over her dismissal from board of Universities Superannuation Scheme
Pension fund chair says Warwick statistician had ‘breached a number of her director’s duties’, but insists probe was ‘completely separate’ to investigation of her claims
Pension fund’s deficit is likely to be worse than feared rather than better, says Sir David Eastwood
Average members set to get £18,200 a year in retirement under latest changes, compared with £23,800 under pre-2011 scheme
UUK proposal calls for next month’s ballot to be cancelled in return for a 0.5 per cent increase in employer contributions to Universities Superannuation Scheme
