Defend Your USS Pension Rights
Negotiations have been taking place between UCU and the employers on the future of the USS pension scheme. Over the last summer, the employers managed to push through a proposal which will result in a two-tier pension system as a step towards phasing out the final salary scheme and reduce what they contribute to the scheme. If implemented, the employers' proposal will immediately mean:
- lower annual pension increases
- an increase in the normal pension age
- the abandonment of a final salary scheme for new entrants, creating a two-tier pension scheme with future pressure on existing members
- existing members who are at risk of redundancy or on fixed term contracts who have a break of 6 months or more in service will not be able to rejoin a final salary scheme
- an increase in contributions for employees with no progressive proposals to make high earners pay more
- removal of the right for individuals made redundant to take their pension unreduced.
The employers' pension proposals are highly detrimental for all members of USS - and particularly devastating for members on fixed term contracts.
You need to know what's going on
If you are interested in receiving both sides of the argument and want to read the UCU response to each of the employers' points , then you can do so by following this link to the UCU pension statement.
For more information on the proposed changes to USS please see: www.ucu.org.uk/index.cfm?articleid=4598
UPDATE Following the decision of the conference of pre-1992 branches/LAs on 31 January, industrial action in relation to the USS dispute has been suspended, in order to facilitate talks with the employers.
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