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January 25th, 2018:

Hands off our money – fight to defend our pensions

With a single casting vote in the pension joint negotiating committee the financial security of current and future academic staff has been jeopardised.

Sadly this means that our strike action must go ahead. https://www.ucu.org.uk/article/9235/UCU-says-strikes-now-look-like-a-reality-as-pension-talks-end

Academics and academic related staff don’t like striking. We are here because we care about education and research. Most of us work longer hours than we are contracted for because we believe in what we do, because we chose service rather than profit.

But strike we must.

Here at Southampton UCU we are regarded (and regard ourselves) as a pretty moderate bunch. The turnout for the vote and the overwhelming support for strike action indicates that we have been pushed too far. This attack on our financial futures cannot be allowed to succeed.

The move to defined contribution pension with its frighteningly individualised risks (the value of investments may go DOWN as well as up) and attendant administrative charges, is nothing less than a pay cut. It is pay cut of between 10-40%, taken from our deferred salary. What is more, it is a pay cut supported by the members of the UUK side of the JNC who are most likely to be financially secure (http://www.ucea.ac.uk/en/empres/pensions/uss/governance/).

Not all VCs backed the UUK side or these damaging changes to USS. On Thursday last week, Warwick’s VC wrote that “there is a need to maintain a meaningful defined benefit scheme for those members of staff, present and future, who perceive pension provision as a key factor in their choice entering or remaining in higher education”. https://warwick.ac.uk/insite/news/intnews2/vc_letter_to_uuk.

Alongside him, the VC of Loughborough also stated his opposition in a letter (partially reproduced here https://twitter.com/sheffielducu/status/952873826475528192 ) .

Colleagues at Bristol reported that their employers had been keen to find a middle ground and planned to revise how much the institution was willing to pay in contributions.

Sadly our own VC, one of the highest paid senior academic leaders in this country, did not stand with us against the proposals. The senior management here have continued to support the move to defined contributions.

Members can expect more emails in coming days about the strike action. What we can say now is that we must strike to show our employer that our deferred salary is not theirs to bargain away.

Your executive committee will meet on Friday 26th Jan to plan the action here. In the meantime here are some of the things you can do now to help defend your pension.

  1. Volunteer for our picket lines.We will picket areas across our university campuses and need up to six on each picket line. Please email Amanda with contact details (ucu@soton.ac.uk)
  2. Pass the message on. Tell those who are not members that these changes could wipe £200,000 from their pension. See https://www.ucu.org.uk/article/9093/Overhaul-of-university-pensions-could-leave-staff-200000-worse-off-in-retirement. Urge non-members to join UCU https://www.ucu.org.uk/join and join us in action to defend our pension.
  3. Bookmarkhttps://www.ucu.org.uk/strikeforussfor updates on the action.
  4. email the VC vice-chancellor@soton.ac.uk and ask him why he did not defend your pension

Finally remember we are your branch. You are UCU. Send us your comments and ideas about how to make this strike effective. ucu@soton.ac.uk.

We may be reluctant to strike, but strike we must. We cannot allow this assault on our retirement security to go unchallenged.

 

the photo used is from https://commons.wikimedia.org/wiki/File:Cardboard_ballot_box_-_Smithsonian.jpgorm  and depicts an early US ballot box which of course is not related to the USS vote in any way but is instead a rather lovely piece of history.