Thread by @JosephineCumbo

BREAKING: A potentially significant development today in the UK university #pension disupte.

#UCU says compromise pension proposals - put forward by the union to avert strike action - have been deemed "both viable and implementable" by the #USS pension plan.

More follows:

#UCU submitted alternative #pension proposals to #UUK employers on Wednesday 26 January in a bid to avert industrial action over #pension cuts they had proposed.

Industrial action was due to begin at 44 universities on Monday 14 February.

#UCU said, that after working together with UCU, the #USS Trustee had confirmed the union’s compromise #pension proposals "are both viable and implementable."

Jo Grady, #UCU gen sec, has written to Alistair Jarvis, chief exec of #UUK, urging him to urgently consult employers.

#UCU said vice chancellors had been "gifted a ‘golden opportunity" to resolve the #USS pensions dispute after the trustee said there was no impediment to the #UCU compromise proposals being implemented.

Jo Grady letter to Alistair Jarvis, sent today.
ucu.org.uk/media/12419/GS…

#UCU said due to confidentiality, it was unable to share the full email from #USS in which the pension fund is said to say there is ‘no impediment to implementing’ UCU’s proposals.

The #USS has been contacted for comment.

To recap:

#UCU proposed that current retirement benefits would be protected in return for a small short-term increase in contributions for both members and employers ahead of a new “evidence-based valuation of the scheme”.

Jo Grady, #UCU gen sec, letter to Alistair Jarvis, chief exec, #UUK

"It is deeply regretful that UUK did not take the steps to consult before now, wasting two weeks of valuable time. I am urging UUK to now carry out an urgent
and rapid consultation of university employers."

We are seeking comment from #UUK to today's development.

#USS #UCU #UUK

#UUK is currently consulting hundreds of universities on a modification to controverisal #pension cuts proposed by employers to conclude the 2020 #USS valuation.

The modification proposed delaying the introduction of a 2.5% cap on pension increases until 2025.

Here is the proposal #UUK put out to consultation with university employers on February 2.

ussemployers.org.uk/news/employer-…

#UCU has today written to #UUK asking it to urgently consult on alternative proposals put forward on Jan 26 and deemed "viable" by #USS.

ussemployers.org.uk/news/employer-…

BREAKING: A #USS spokesperson has issued this statement to the #FT re today's #pension dispute developments.

"We have confirmed there is no operational impediment to implementing UCU’s proposals for the 2020 valuation. (continues)

USS: (cont) This assumes that employers are willing to provide the necessary covenant support and that UCU and UUK representatives on the Joint Negotiating Committee agree to commit to member and employer contributions escalating, over time, to 13.9% and 29.1% respectively (cont)

USS: "The timing of the next valuation would be independent of the outcome of the 2020 valuation."