Jackie Grant, a UCU pension rep. at Sussex, prepared the following graph, which comparatively outlines how pensions are likely to depreciate given the recent cuts pushed through at JNC. The graph highlights just how poor our pensions now prepare us for living in our old age, and how urgent changes to USS governance and valuation …
Tag: pension
Mar 31
USS: 0% contribution increases needed to service deficit!
I have just sent the following letter to Martin Atkinson and Jane Higham in the hope that we can push back against the continuing farce that is the #USSmess. Chris
Mar 04
USS Pension Update
Local Context Whilst we were on strike this month, the University of Kent rejected UCU’s proposal to stave off cuts to our pension pay-outs. This is the text of their rejection: Proposed Consultation Response – UCU proposal feb22.pdf Management’s response is clear: their financial mismanagement has led to the position whereby we must take a …
Feb 09
Total Pension Loss Estimates
Nov 19
USS Complaint Response and Legal Action
The USS has responded to our second stage USS complaint which we submitted on behalf of 3,383 colleagues from across the UK on 18th August 2021, which followed our first stage complaint submitted on 22nd January 2021. In their response, and rather than answering any of the questions, they closed our complaint because we have …
Aug 23
USS Pension Update: Complaint to UUK
A complaint has been lodged to USS on behalf over over 3,000 UCU USS members in a letter that can be read here. The text below has been modified from an email sent out by Neil Davies, a member highly active in the USS dispute. The second stage of the complaints process should be passed …
Jun 25
USS Update: HQ and UUK Surveys on USS Proposal
Short Summary (TL; DR) Please oppose Option A in the upcoming survey on the USS that management is about to send out. It involves huge cuts to pensions based on an unjustified and debunked valuation. Please complete the HQ survey (previously circulated by email) to indicate when would be the best time to take action as a …
Apr 28
UCU and UoK Joint Statement Regarding the USS Trustee and Valuation
Lines dividing the UCU and UUK positions regarding the 2020 USS Trustee valuation are regrettably becoming clearer. In an email sent yesterday, Jo Grady wrote that, rather than attempt to pressure the trustees into reforming their reverse-engineered and unjustified valuation, UUK ‘is proposing massive cuts to USS members’ retirement benefits and is consulting [our employers] …
Apr 19
USS Pensions Update
Overview The USS 2020 valuation is not fit for purpose, the governance of USS is not fit for purpose. The behaviour of the Pensions Regulator is at odds with its remit. The situation has changed considerably since 2019 when UUK had ‘full confidence in the way the giant USS scheme was being run’ FT, July …