»Ê¼Ò»ªÈË

±Ê±ô±ð²¹²õ±ðÌý.

USS has been consulting on USS proposals to increase contributions from employers and employees by approximately 40% - for the same benefits. This is a huge tax on us (a pay cut of 3.7%) and the employers.

Increasing contributions by such a margin will undermine USS, making it unaffordable for many and much lower value than alternatives. It will thus be used to pressure colleagues to accept a "100% Defined Contribution" proposal (a risky stock market portfolio where staff take all the risk).Ìý

Tens of thousands of UCU members took 14 days of strike action in March precisely to stop this very imposition of 100% DC.

An emerging consensus recognises that these increased contributions are wholly unnecessary.Ìý

• At the end of the summer, the Joint Expert Panel, staffed by experts put forward by UCU and Universities UK, reported that with modest changes to working assumptions to the valuation, only small increases would be needed.
• Then a month ago, Sheffield University Pensions Officer Dr. Sam Marsh identified a further flaw in the modelling for 'Test 1' that shows that it was unnecessary.
• Now UCU's actuarial advisors, .

But USS management are not currently listening. Led by Bill Galvin, USS CEO, they are now trying to stop the implementation of the JEP report - let alone accept Sam Marsh's correction to Test 1.Ìý.Ìý

It is clear that Bill Galvin cannot be trusted to manage our pensions.Ìý

He has to go.Ìý

, and ask others to do so.