Motion for the Warwick University Assembly brought by the UCU

The university has agreed to hold an Assembly meeting (of the whole academic and related staff) to debate the following motion passed by the UCU at its last branch meeting. The Assembly is taking place today and will receive presentations of the university position and the UCU position presented by Jimmy Donaghey (national negotiator as well as Warwick member of staff) as well as debating the motion.

This Assembly:

Requests the University of Warwick Senate and Council to:

- declare a clear belief in the importance of a good defined benefit pension scheme that provides a secure and predictable income to staff in retirement as an essential element of a world class university;

- note that the latest Annual Report and Accounts of the USS pension scheme (March 2014) indicates an operating surplus of over £1 billion for the year;

- also note that the fund has seen surpluses in 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, 2004 etc. (USS Accounts: http://bit.ly/ongoingsurplus);

- recognise that the scheme is 'immature' (continues to have more money going in than out and membership is still growing) and clearly not in need of a de-risking strategy;

- acknowledge that the reported 'deficit' of the scheme is predicated on the assumption that a recovery fund must be calculated to pay all future pensions if all USS-scheme universities cease to operate simultaneously (Q7, EPF Q&A, http://bit.ly/whatdeficit);

- declare it does not believe this is a credible scenario for the basis of a recovery plan, because it takes prudence to ridiculous extremes;

- use its role in UUK and the Employers’ Pension Forum to bring influence to pull back from the proposals that will change USS beyond recognition, and;

- acknowledging that this is a regulatory requirement under current arrangements, explore mechanisms for lobbying for regulatory change.

Dennis Leech : 28 Oct 2014 09:30 |  Tags: Pensions; University Uss; Warwick |  Comments (0) |  Report a problem