University 'surplus' because of lower USS contributions not 'fantastic news', says Jo Grady

The University of Edinburgh's vice-principal has stated that the university has achieved a larger than expected surplus, 'first and foremost' because of lower than expected employer contributions to USS pensions, a development he described as 'fantastic news'.

UCU general secretary Jo Grady wrote to members questioning whether a university's surplus could ever be 'fantastic news' when it comes at the cost of a decent retirement?

She also shared with members that USS has finally made it possible for active scheme members to get a full picture of what their own benefits will look like under the employers' cuts, by releasing a new modeller as part of their consultation process. Jo said it reinforces the deeply worrying picture provided by our own modeller released back in May.