USS negotiations outcome
08 July 2010
Commenting on the decision taken by the USS Joint Negotiating Committee yesterday (7 July 2010) Dr Wendy Piatt, Director General of the Russell Group of 20 top research-intensive universities said:
“Negotiations over this important issue have been difficult and protracted and we are pleased that the USS JNC Chair has taken the decision to support the employers’ proposals for reform of the scheme. Once the USS Trustees have approved the changes outlined, Russell Group universities will be able to move ahead and consult with their employees about creating an attractive defined benefit pension scheme which is affordable and sustainable into the future.
“These are challenging times for the sector. Universities are having to respond to recent reductions in the higher education budget whilst planning for an uncertain future. In these circumstances, in order for universities to be able to minimise the impact of cost reductions on their staff whilst delivering a high quality experience to their students, it is essential that pension costs can be controlled and the level of risk greatly reduced.”