Thu, 4 March 2021

Newsletter sign-up

Subscribe now
The House Live All
Education
Coronavirus
Health
Education
Coronavirus
Press releases

Vince Cable urges govt to intervene in university strikes

Vince Cable urges govt to intervene in university strikes

John Ashmore

1 min read

Lib Dem leader Vince Cable has called on the government to support lecturers’ pensions and bring and end to their ongoing strike.


Tens of thousands of lecturers across 57 institutions staged two days of walkouts this week, largely over changes to their pension schemes.

Mr Cable said the government should underwrite the universities superannuation scheme, guaranteeing their pensions. 

Proposed changes would switch lecturers’ pensions from a defined benefit to a defined contribution scheme, leaving them potentially up to £10,000 worse off in retirement.

In a letter to the universities minister, Sam Gyimah, Sir Vince said: "Lecturers are not well paid; the reward for their hard work has largely been in the form of relatively generous packages, including a defined benefit pension.

"There is a large deficit of around £6-7.5bn in the scheme, so some work clearly needs to be done to bring this down urgently.

"However, this does not necessitate the drastic action being taken - particularly given there are question marks over how the deficit has been calculated - notably a shift of the risk burden on to employees."

 

Categories

Education
Partner content
Connecting Communities

Connecting Communities is an initiative aimed at empowering and strengthening community ties across the UK. Launched in partnership with The National Lottery, it aims to promote dialogue and support Parliamentarians working to nurture a more connected society.

Find out more