This is an update in a regular series of communications to update staff on the progress of the 2020 valuation of the USS pension scheme.
In this update:
- UUK responds to UCU strike ballots, reinforcing that “students do not deserve further disruption”
- Video for Sussex staff: Expert guide to what is happening
- Look out for your consultation email
- UUK calls for joint working with UCU
- A reminder of where to find resources and practical help to keep you informed
UUK responds to UCU strike ballots, reinforcing that “students do not deserve further disruption”
Universities UK (UUK) has publicly responded to comments made by the UCU General Secretary, Jo Grady, in the week that ballots for industrial action opened at universities across the country.
In its response, UUK expressed its disappointment that UCU is pressing with industrial action that will cause further disruption for students and pointed out that:
- The reforms proposed by employers secure USS as one of the most attractive pension schemes in UK
- UCU have not formally proposed an alternative solution
- The UCU figure of a 35% reduction is misleading and risks further staff opt-outs from pension scheme
Video for Sussex staff: Expert guide to what is happening
Recordings are now available of last week’s USS webinars with a pensions expert at Mercer.
A comment sent in by a member of Sussex staff ahead of the webinars said that they were confused by conflicting information from the different parties involved in the valuation and didn’t know who or what to believe.
Last week’s webinars were designed to clearly explain to staff what is happening, what the different parties are doing and saying, and what happens next.
All staff eligible to be a USS member are strongly encouraged to watch the webinar recording.
Mercer work with individuals and organisations across many sectors and organisations, not just higher education. They were not briefed to put across the University’s view and were brought in as a resource for staff to get information and ask questions.
Look out for your consultation email
Next week, the University will forward an email from the USS Trustee to all Sussex staff who are eligible to be a member of USS (whether or not they are currently). The email will contain details of how you can take part in the statutory consultation about the proposed changes to the USS pension scheme. If you are unsure what the proposals are, we recommend watching the Mercer webinar. The consultation will run between 1 November and 17 January.
UUK calls for joint working with UCU
UUK has called on union representatives to join them in shaping and overseeing important changes to the USS pension scheme.
A UUK spokesperson said: “We’re creating a better and more inclusive pension scheme which is affordable for early career staff, exploring how scheme redesign could offer enhanced pension benefits and better value for money for members and employers, and establishing an independent review of scheme governance. We expect that the UCU, which represents all scheme members, will want to play a full part in these important discussions and decisions.”
A reminder of where to find resources and practical help to keep you informed
We are keeping up-to-date information about the 2020 valuation on our website. This includes links to key documents published by the main parties, as well as recordings of recent webinars.
If you have questions about your individual pension or circumstances, you can contact pensions@sussex.ac.uk.