The University of Glasgow, in partnership with the local branch of UCU (UCUG), have agreed a joint statement in support of a future exit strategy from the current USS dispute. This follows a constructive dialogue at a local level between the University of Glasgow and UCUG, following which the University has affirmed its view in writing to UUK that any upside arising from the next USS valuation be directed towards improved benefits for members of the Scheme. Further, the University acknowledges a motion that UCUG intends to take to the Special HE Sector Conference on 27th April.
The University, working jointly in partnership with UCUG, calls on UUK to:
1. Agree that any upside arising from the next scheduled valuation of the scheme’s assets and liabilities should be used to improve member benefits and not to reduce employer or employee contribution rates from current levels.
2. While recognising contribution levels are currently at the limit of affordability for many employers and employees, consider whether in a future valuation a further uplift in employer contribution may be possible depending on the financial health of the sector. We recognise that during the current valuation cycle the University of Glasgow has supported a maximum affordable contribution rate of up to 23.7%.
3. Call on the USS Trustee Board to undertake the next valuation exercise on the basis of a reasonably prudent approach.
4. Employers should continue to provide enhanced covenant support through the future valuation process and recognise that this should apply in a negotiated way to any benefit proposals formally presented through the JNC by either UUK or UCU.
In committing to the jointly agreed provisions contained in the statements outlined above, the University would expect this agreement in principle to work towards concluding the USS dispute and ending the industrial action, subject to the UCUG motion succeeding.