Universities' staff pensions

That this House notes that the University and College Union (UCU) and members are in industrial dispute over a prospective cut in pension entitlement for lecturers of 35 per cent; further notes that the University Superannuation Scheme (USS) was last valued during the 2020 pandemic and needs re-evaluation to account for its recovery; notes that the UCU has proposed an interim settlement pending re-evaluation that would entail staff paying an additional 1.4 per cent, and universities 2.6 per cent into the USS; notes that the employers’ organisation is consulting on this proposal; recognises that industrial action is already estimated as costing £5 billion; and calls upon the Government to provide funding for the less wealthy universities that cannot afford these increases in order that the dispute may be resolved through negotiation and that university pensions become fair and sustainable.