University bosses to review pensions

University employers have announced that they will push ahead with a re-evaluation of the pension deficit at the heart of an industrial dispute with staff.

More than 60 universities have suffered disruption after the University and College Union (UCU) staged 14 strike days over four weeks.

A deal to end the bitter row with Universities UK (UUK) was thwarted last week when union members rejected the conditions, meaning the walkouts could stretch into exam season.

The dispute centres on a proposed shake-up of the pension scheme, which employers say is necessary to plug a £6.1 billion deficit and meet rising benefit costs.

Lecturers fear it could instead leave them up to £10,000 out of pocket each year. One of the terms of the rejected deal was that an independent body would re-evaluate the deficit to determine if it was as severe as claimed.

UUK said yesterday that it would still establish a panel of experts to review the processes behind the valuation.

The proposal will be “introduced immediately to address concerns over the current valuation” and UCU will be invited to provide evidence.