Employers' latest pension proposals "deeply disappointing"

Responding to UUK's launch of a consultation into modified USS pension proposals, UCU general secretary Jo Grady said:

'It is deeply disappointing that at this crucial point, the best employers can offer is a temporary suspension of a cap on inflationary increases which, when lifted, would devastate the retirement benefits of thousands of scheme members. If this was an attempt to persuade UCU members not to take industrial action to protect their pensions, it will fail.

'Rather than rushing to consult on these insufficient proposals, UUK should be formally considering those put forward by UCU. UCU's offer is the only serious, affordable compromise on the table that can protect pension benefits and avoid widespread disruption on campuses this month. UUK must now seek the opinions of vice chancellors. Failing that, vice chancellors must make their views known as a matter of urgency.

'Discussions with USS regarding UCU's proposals will conclude shortly. We therefore urge UUK to suspend this consultation and wait a few days so they can put our serious offer to institutions instead.'