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Benefit Restoration Now – Not in a Year’s Time

Introduction USS DB member benefits were slashed on 1 April 2022, with cuts involving a 12% reduction in accrual rate, and a drastic cut in threshold for defined contribution (DC) payments from £60k to £40k, dramatically increasing members’ pensions exposure to stock market uncertainty. A cut to inflation protection is still threatened on 1 April 2024. UCU policy is twofold: to demand that UUK agree to withdraw their…

Frequently asked questions

We have compiled answers to a number of Frequently Asked Questions that have arisen as a result of this proposal. We will endeavour to update this FAQ as the need arises. Questions Can we rely on the 2023 valuation to reverse the cuts? Which valuation is this proposal based upon? Why? What are the six elements of the ‘Reverse USS cuts’ proposal? Which aspects of the proposal may…

‘Could’ does not mean ‘would’ – Carlo Morelli

I would like to thank Deepa Driver and Marion Hersh for setting out proposals that would implement UCU Congress policy to restore the benefit cuts made by USS and UUK to our pensions since April 2022. I also welcome Mike Otsuka and Mark Taylor-Batty’s contribution to the discussion. While I will leave others to address some of the objections made by Mike and Mark, I wish to address…

Motion for branches

This is an urgent motion for branches to consider, ideally before the Branch Delegate Meeting of 10 January 2023. Pension changes could be made in the current USS scheme year (i.e. from 1 April 2023). But we need to act quickly. This UCU branch notes That USS’s own estimate of its monitoring position in September 2022 projected a £5.4bn Defined Benefit (DB) surplus, continuing an upward trend. That…

How can we restore our USS benefits as soon as possible?

A suggested path from Deepa Driver & Marion Hersh Dear UCU Members USS is now reporting a surplus of between £4bn-£5.4bn on a monitoring basis. This has vindicated our union’s position that member benefits were cut by opportunistic employers based on spurious grounds. We have a crucial and shrinking time window, when the threat of hard-hitting industrial action provides a path to reversing these devastating cuts. A recap…