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Employers' latest pension proposals "deeply disappointing"

2 February 2022

Âé¶¹¹ÙÍø has rubbished Universities UK's latest pension proposals.

Responding to UUK's launch of a consultation into USS pension proposals, Âé¶¹¹ÙÍø 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 Âé¶¹¹ÙÍø 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 Âé¶¹¹ÙÍø. Âé¶¹¹ÙÍø'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 Âé¶¹¹ÙÍø'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.'

Last updated: 3 February 2022