This branch notes that the HE employers are intent on forcing draconian and unnecessarily extreme changes to the Universities Superannuation Scheme. If implemented, the employers’ agenda will mean:
- Lower annual pension increases
- An increase in the normal pension age
- The abandonment of a final salary scheme for new entrants, creating a two-tier pension scheme with future pressure on existing members
- Existing members who are at risk of redundancy, including those on fixed term contracts, who have a break of 6 months or more in service will not be able to rejoin a final salary scheme
- An increase in contributions for employees with no progressive proposals to make high earners pay more
- Removal of the right for individuals made redundant to take their pension unreduced.
This branch notes that there is a statutory requirement to consult over these changes. This branch calls on Goldsmiths to:
- Conduct a consultative ballot on the proposals for change submitted respectively by the Employers’ Pension Forum and the UCU
- Publish the result of the ballot to scheme members within the institution
- Send the ballot result to USS as the local response to the statutory consultation exercise
- Ensure all members of USS are able to engage in the process and that their comments are fully reflected in the institution’s response to USS and that they are published locally.
This branch meeting instructs the UCU committee to call a meeting of the JNCC to discuss the proposed changes to USS and to seek agreement with Goldsmiths over the terms of the local response to the USS consultation process.
Motion passed 22 September 2010