DEFENDING ACADEMIC PENSIONS

That this House recognises that academic staff in universities make a vital contribution to ensuring the supply of skilled graduates to UK businesses; believes all staff working in universities should have access to a secure and decent pension; notes with concern the proposal by Universities UK to close the defined benefit portion of the Universities Superannuation Scheme (USS) to all future service; further believes this would significantly reduce the security of retirement income for academic staff in many UK universities, making careers in those institutions less attractive; and calls on the Government to review the current situation and urge Universities UK to work with University and College Union to find a better solution which ensures that USS remains competitive compared with pensions offered to other education staff and those in other professional occupations.