Key points from the USS Branch meeting 14-10-14

Members heard from Mark Oley (Regional Official) and Malcolm Povey (Leeds UCU) about the threats to the USS scheme.  

  • USS is a healthy scheme.  The deficit calculations ignores the fund’s huge assets, and assumes that the collapse of all UK HE universities is a possibility.  The USS deficit explained.
  • The Employers are shifting the liability for pensions to the individual.  The defined contribution part of the scheme is effectively a gamble as there will be no guaranteed pension benefits.
  • The proposal tares up the contractual agreement made between the employer and staff for the pension provision.
  • We have a good case, and the Employer can afford it.    Improvements have already been offered by the employer in response to the ballot.
  • The proposals are inferior to the post 92 institutions’ TPS pension scheme which is also underwritten by the government.
  •  If we back off they will come for more.  Further erosion will follow if this isn’t stopped now.
  • Our negotiators need a strong mandate from members.

    Vote YES both for strike action and for non-strike action