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Category Archives: USS
“Don’t object to the cost- if it’s of your making” -Otsuka reasons with the UUK
Applying the lesson of Prof Cohen’s kidnapper to USS Universities UK objects to a union proposal on grounds that “it requires scheme members to pay much more for a reduced pension benefit”. UUK’s concern for our bank balances reminds me of … Continue reading
“No alternative methodology was proposed” – Mike Otsuka calls UUK
Why it matters that this claim of UUK’s is false UUK’s Q&As on the USS valuation from mid-December end on a perplexingly obviously false note, which I highlight in bold: “UCU have raised a number of concerns regarding the USS valuation … Continue reading
The incoherence of UUK’s attitude towards risk – Mike Otsuka
Low risk is intolerable when shared by 350 institutions but high risk is fine when borne by workers individually USS’s current troubles, and UUK’s proposed solution, reflect an incoherent attitude toward risk on the part of our employers. Their responsibility … Continue reading
Posted in pensions, USS, Value for Money, welfare
Tagged Mike Otsuka, pensions, Risk, USS, UUK
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“You break it – you own it” (Mike Otsuka on “consequences” at USS)
Why employers must pay for the £2.4 bn rise in the USS deficit As USS makes clear, employers are collectively responsible for the increase in the deficit from £5.1 bn to £7.5 bn and the accompanying increase in deficit recovery contributions … Continue reading
Posted in pensions, USS
Tagged Conan Powell, employers, Mike Otsuka, pensions, UCU, USS
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Is the USS really in crisis?
Professor Dennis Leech is Emeritus Professor of Economics at Warwick University. This week has seen the University Employers threaten to withdraw sponsorship for future DB accrual, the University Union announce intended strike action and the DWP Select Committee ask fundamental questions about … Continue reading
Posted in pensions, USS
Tagged Dennis Leech, first actuarial, Funding, pensions, The Pensions Regulator, USS, UUK
16 Comments
USS pension changes would be a disaster (but they are preventable) – Dennis Leech
The changes to the USS that UUK proposed on Friday will substantially alter the nature of academic employment in the Pre-92 universities and will damage higher education irrevocably. They will mean academic salaries having to rise substantially to attract the … Continue reading
USS – the plot thickens!
Correspondence has emerged between the various macro-stakeholders in the USS “pension deficit” The cast in order of appearance Frank Field – Chair Elect of the Work and Pensions Committee. Here he is kicking off correspondence in August with…. … Continue reading
Posted in pensions, USS
Tagged David Eastwood, Frank Field, Janet Beer, Lesley Titcomb, pensions, UCU, Universities UK, USS
15 Comments