UCU members voted to accept the employers’ latest proposal concerning Universities Superannuation Scheme (USS) reform, bringing the strikes to an end.
In a record turnout, UCU members voted to accept the proposal, with 64% of the turnout voting in favour. Strike action was set to recommence next week and to continue into May, but the acceptance of Universities UK’s (UUK) most recent proposal has suspended industrial action.
Strikes began on 22 February, for a total of 14 non-consecutive days across 65 UK universities.
The industrial dispute concerned the removal of guaranteed ‘defined benefit’ pensions, which would be replaced with ‘defined contribution’ schemes. It was estimated that a typical scheme member would lose up to £10,000 per year in retirement, a reduction of 40%.
The current settlement has removed proposals for defined contribution schemes as well as the establishment of an expert panel consisting of equal numbers of UCU and UUK representatives.
Find out more information about the proposal here.