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