University lecturer explains why academics are striking over pension cuts
Ania Zalewska, University of Bath University staff across the UK are striking over changes to their pensions. Academics at 64 universities, who are members of the University and College Union (UCU) and who are signed up to a defined benefit pension scheme (known as USS), are faced with cuts that could leave them significantly worse off in retirement. Universities UK, the umbrella group for UK universities that manages the pension scheme, claims that the change is needed because there is not enough money to make the scheme financially viable. This is disputed by the striking staff and a closer look shows why this has merit. From the outside, it might look like another case of a pension black hole problem hitting another UK institution. Many companies have made the news in recent years for pensions problems – retailer BHS , construction company Carillion , steel firm TATA in the UK , telecoms giant BT , just to name a few. What’s more, the UK is much worse than many o...