Following the UCU Higher Education Committee’s decision to reject the latest offer made by UUK, and proceed with an industrial action ballot on pensions, a Universities UK spokesperson said:
“It is disappointing that UCU have chosen not to consult members over the latest offer made by employers, which could have resulted in a lower member contribution rate for the same benefits.
“USS will now likely conclude the 2018 valuation in line with the decision made by the Joint Negotiating Committee on 22 August, which ensures that members' benefits are protected at current levels, with a more manageable level of contributions than was required under the 2017 valuation backstop.
“Employers are committed to ensuring USS remains one of the very best pension schemes in the country, and we look forward to the Joint Expert Panel’s second report, due this autumn. We hope that UCU will join us to explore how the long-term sustainability of the scheme can be secured.”