Why are UK Universities trying end the 'Deffined Contribution' pension scheme for University staff?

Changes to our pensions will make much worse what we can expect in retirement, as at present we can be reasonably certain about what we will receive. Now we are being forced to 'bet' on the stock market, and we know, because of the built in periodic crises, that that doesn't go so well. Our union, the University and Colleges Union has this page: https://www.ucu.org.uk/uss-dispute-questions?list=9041 A key feature is the desire of (some) of the Universities to remove the 'risk' of the pension from their balance sheet and to load all of that risk onto their staff. Here is a counter proposal that they have so far refused to consider: https://medium.com/@mikeotsuka/how-uk-university-employers-could-greatly-improve-their-uss-pension-offer-at-no-cost-to-them-1fd970844bcc Many of us believe they will not agree to *any*thing* we come up with because they hate us because we are "collective"

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  • Marc Gibson
    published this page in Ask Prof. Wolff 2017-12-19 10:45:07 -0500