Jointly and fairly, Alistair Jarvis, CEO of @UniversitiesUK wants to move forward. But how far have the employers moved forward? We look at this below, but the short answer is: not at all. researchprofessionalnews.com/rr-news-uk-vie…
"At the heart of the USS dispute is the challenge of how to address the financial deficit...". Schrodinger's deficit has been in and out of its box for nearly two years. First it meant DC was inevitable. Then it mean that a worse DB scheme was inevitable. Then it mean Option 3...
...and so on, you get the point. At the heart of this dispute is really the question: how much of a deficit or surplus is there? Or more fully, how do you work out the scheme's current performance, its future performance, and adjust its investment strategy accordingly?
"We’ve worked hard to find a solution acceptable to the UCU...". Indeed. It was called the Joint Expert Panel. It's recommendations addressed the core issue of the valuation. Yet the substantive parts of the JEP have yet to be implemented.
And this is why we find ourselves on strike. There would not need be higher contributions on either side were the JEP properly addressed. But what does Jarvis finish with - the promise of JEP2. We need firm commitments not promises of goodies to come, we've had those before.
But USS and UUK seem desperate to do anything other than address the valuation. USS sacked Jane Hutton when she attempted to do so as a trustee. And Jarvis has returned to PR spin form pleading poverty on the part of smaller employers - all of whom would pay less with the JEP.
That the leadership of USS and of UUK are still in post, regurgitating last year's arguments, and refusing to engage on the substantive issues is egregious. Enough is enough #USSStrikesBack
