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To: Professor Stuart Corbridge, Vice-Chancellor, Durham University

Durham University, Universities Superannuation Scheme

As members of the Durham University community we urge you to oppose publicly the proposals for changes to the Universities Superannuation Scheme that would involve a reduction in employers’ contributions from 18% to 13.25% of pay and abolition of any defined benefit component of the scheme.

Why is this important?

These proposals, which involve both a substantial pay cut and greatly increased financial insecurity for scheme members, will be hugely detrimental to Durham’s staff, whom you have often said are the University’s greatest asset.

Moreover, the proposals are based on a grossly misleading approach to the valuation of the current and future viability of the scheme. We are aware that not all universities supported the proposals; further, the pensions correspondent of the Financial Times has reported that the unnecessarily prudent approach to valuation was pushed through partly as a result of the response of individual Oxbridge colleges to the consultation, thereby distorting the outcome against the interests of employees.

While we welcome your call for negotiations to resume, for these reasons we urge you to go further and to state publicly that you are opposed to the current proposals. Other Vice-Chancellors have done so, including Durham’s former Deputy V-C, Anthony Forster, at Essex University. Please make Durham a leader in supporting the interests of academic and PSS staff and ensuring a sustainable future for the university sector.

Durham University, Durham

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Updates

2018-02-22 10:31:50 +0000

100 signatures reached

2018-02-21 18:59:26 +0000

50 signatures reached

2018-02-21 17:13:36 +0000

25 signatures reached

2018-02-21 16:27:10 +0000

10 signatures reached