Higher education staff vote to end dispute over pensions
The union announced that 99% of its 19,000 members who voted backed an end to their dispute with university employers over the Universities Superannuation Scheme (USS), the UK’s largest private pension fund.
The University and College Union said that the restoration of pensions, in addition to a one-off payment of around £900 million (US$1.1 billion) to reflect the money members have lost since April 2022, will mean an extra £16 billion to £18 billion will go into pension pots. The union said these changes will mean that the typical USS member will be around £150,000-£200,000 better off due to paying less into their pension and receiving more throughout their retirement.
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