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NEW:University employers say they will still consider "alternative benefit structures and formulations", provided they are "viable, affordable & implementable".
The statement comes after the UK university sector union warned industrial action over pension cuts was "inevitable"
The statement comes after the UK university sector union warned industrial action over pension cuts was "inevitable"
NEW: Proposed cuts to pension benefits for hundreds of thousands of UK university sector staff will see a worker earning under £40k p/a with 12% less retirement income, according to UUK, the university employer body.
This estimate assumed inflation does not rise above 2.5%.
This estimate assumed inflation does not rise above 2.5%.
UUK says the alternative to its pension proposal may see members subjected to steep increases in their #pension contribution rates from 13.6% and 18.6% of salary (compared with 9.6% now) – which would hit take-home pay and may price many out of the scheme.
