There were many reasons why members were opposed. But the central reason was the massive 19% cut in the value of the Defined Benefit pension and the risk that CPI would cut it more. It expanded Defined Contribution down to £42K, drawing in members on Grade 8/Senior Lecturer grades. It was a three-year deal which was bound to unravel.
Members were incensed at the scale of the cut and the thought we would have to fight to protect our pensions in three years' time all over again.
This 'deal' came out of a negotiation conducted within the terms of the 'November Technical Provisions', i.e. within a massive deficit cost envelope. This is fundamentally why the offer was unacceptable.
We have to argue that the deficit is not real. It is a projected deficit based on assuming the scheme was wound up.
We should argue that USS should instead be valued on an ongoing basis, i.e. as a going concern. If the USS Board need the Government to guarantee the future of the scheme, then USS and UUK should join UCU in calling for a government guarantee.
We demand the status quo, i.e. #NoChange to our USS Pension.
And we'll take whatever strike action is needed to win it.
(initial signatories)Lesley McGorrigan, University of Leeds, NEC memberSean Wallis, University College London, NEC memberJoseph Choonara , King's College London , Teaching Fellow Prof Malcolm Povey, University of Leeds, Professor of Food Physics, UCU Committee MemberNigel Bubb, University of Leeds, LecturerLaura Miles, UCU retired memberChristina Paine , London Metroplitan University , NEC HE casualised repNita Sanghera, SCCB/Bournville College , NEC Black Members RepresentativeJohn Croft, Brunel University London, Reader in MusicJo McNeill, University of Liverpool, President, University of Liverpool UCULiam Wrigley, University of Liverpool, Graduate Teaching Assistant
- this petition is initiated by UCU Left, http://uculeft.org