Dear University of Kent UCU members,
We updated you last month on why we had a Universities Superannuation Scheme (USS) consultation going on while awaiting the Joint Expert Panel (JEP) report.
That report is now available and contains lots of positive information.
http://www.ussjep.org.uk/report-of-the-joint-expert-panel/
http://www.ussjep.org.uk/files/2018/09/report-of-the-joint-expert-panel.pdf
A copy of the executive summary and the full report are also available on the local Human Resources (HR) webpages.
https://www.kent.ac.uk/human-resources/pensions/documents/Executive-summary-of-the-Report-of-the-Joint-Expert-Panel-sep18.pdf
https://www.kent.ac.uk/human-resources/pensions/documents/report-of-the-joint-expert-panel-sep18.pdf
UCU nationally has a superannuation working group (SWG) that has endorsed the recommendations of the JEP on the USS, and called upon Universities UK (UUK) and USS to do similar.
UUK is currently consulting with employers:
UUK has published its consultation document:
https://www.ussemployers.org.uk/news/universities-uk-consultation-uss-employers-jep-recommendations
https://www.ussemployers.org.uk/sites/default/files/field/attachemnt/UUK_consultation_2018_final.pdf
Branch officers consider the report a considerable vindication of our industrial action in the spring and, if adopted by the pension scheme, a considerable victory compared to the proposals we were fighting. We are urging university senior management to support the JEP report in the consultation.
In particular, the JEP report alters the method of calculating the deficit and in the process removes 75% of it, and thus 75% of the huge attack upon our pensions.
This would not have been achieved without our action. We can fight and we can win.
We suggest you bear this in mind in relation to the pay dispute too!
Best wishes,
Owen, Mark and Sian