To: Ian Dunn, the Chief Operating Officer, University of Southampton

Keep PASNAS at the University of Southampton

15/05/18 - We won... mostly.
The University is retaining the pension scheme for existing staff, but new staff from the start of next year will not be eligible to join.
The petition was an important part of the campaign and certainly made a difference.

Keep PASNAS at the University of Southampton

Please abandon the plans to close PASNAS, the Defined Benefit pensions scheme for the lowest paid staff at the University and replace it with an inferior Defined Contribution pension scheme.

Why is this important?

PASNAS is not in financial difficulty. The unnecessary proposals will transfer all of the risk of the financial markets entirely onto the shoulders of the scheme members themselves, and damage the futures of the University's dedicated and hard-working support staff, leaving them without adequate financial security in their retirement.

This pension is part of our pay package; the proposals actually represent a pay cut.

They could impact support staff at other Universities (who have similar pension schemes) and also in the wider public sector, where there has been a constant erosion of Terms and Conditions, and pay cuts resulting in many low-paid workers having to struggle to make ends meet.

University Road, Southampton SO17 1BJ

Maps © Stamen; Data © OSM and contributors, ODbL

Categories


Reasons for signing

  • As a lecturer I know I couldn't do my work for a day without our wonderful support staff. They work tirelessly for a low wage to give our students the best experience possible; they don't deserve poverty in their old age.
  • I am opposed to a defined contribution scheme as there is no commitment form the provider to come up with specific results at the end, and hence there is no incentive for them to invest our money wisely, if their investments turn out to be ill-judged we end up penniless in old age. Where is the incentive for them to do a good job when there is no promise of a defined benefit at the end? The so-called "consultation process" is just spin-doctoring and box-ticking in my opinion.
  • If the pension does need changing, I would certainly like to see actual figures explaining why a CARE scheme wouldn't work. I also want an explanation why the University will pay less if this isn't a cost-saving exercise.

Updates

2018-05-15 09:37:37 +0100
Success badge small

Petition is successful with 822 signatures

2018-03-08 13:42:10 +0000

500 signatures reached

2018-02-16 12:12:13 +0000

100 signatures reached

2018-02-16 10:45:33 +0000

50 signatures reached

2018-02-16 10:20:27 +0000

25 signatures reached

2018-02-16 10:11:11 +0000

10 signatures reached