NEW: Striking UK university staff have called for the reversal of cuts to their #USS pensions after new data showed the retirement scheme had moved to a £5 billion funding surplus.
More follows:
More follows:
#UCU, the union representing higher eduction sector workers, said #pension cuts which came into force in April will see a typical lecturer lose 35% of their future guaranteed retirement income with losses steepest for those at the earliest stages of their careers.
UCU: "USS pension cuts were predicated on a valuation of the scheme conducted in March 2020 as markets collapsed. After recording a deficit of £14.1bn, the scheme has since recovered and according to this week’s monitoring report now holds a surplus of £5.6bn"
UCU gen secretary Jo Grady, said the #USS was "going from strength to strength and there remained no credible reason why benefits should not be restored".
‘It is a disgrace that dedicated university staff have been forced to take industrial action to win their pensions back."
‘It is a disgrace that dedicated university staff have been forced to take industrial action to win their pensions back."
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