The pension strike is expected to last for 14 working days, over four weeks.
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The strike is expected to last for a minimum of 14 working days, over four weeks.
The aim is to change teaching staff’s pension schemes from a defined benefit scheme to a defined contribution scheme.
While a defined benefit scheme offers guaranteed income in retirement, a defined contribution scheme offers flexibility, making pensions subject to changes in the investment markets.
The University and College Union (UCU) estimates that changes in the investment markets could cost an average lecturer approximately £200,000.
Universities UK sent City News the following statement:
‘We hope that employees recognise that changes are necessary to put the scheme on a secure footing, and that the proposed strike action will only serve to unfairly disrupt students’ education.’
Sally Hunt, general secretary of the UCU, has issued warnings that the lecturer walkouts, if the conflict will not be resolved on time, could continue into students’ exam periods.
While some students vow to stand by their teaching staff during the strike, many are upset that they will lose 14 days of academic hours that they paid a lot of money for.
Students from most affected universities have started petitions, including City, University of London.
Petitions list request for refunds for the lessons that students will miss.
Sir Paul Curran, President of City, University of London, told City News that he understands why students are upset as the teaching staff’s pensions are not related to them in any way.
The UCU has estimated that the strike will go on until Friday, March 16.
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HeadlineUnion warns of exam disruptions as lecturers from 61 universities strike for their pensions
Short HeadlineStudents upset ahead of pension strikes
Standfirst
The strike is expected to last for a minimum of 14 working days, over four weeks.
The aim is to change teaching staff’s pension schemes from a defined benefit scheme to a defined contribution scheme.
While a defined benefit scheme offers guaranteed income in retirement, a defined contribution scheme offers flexibility, making pensions subject to changes in the investment markets.
The University and College Union (UCU) estimates that changes in the investment markets could cost an average lecturer approximately £200,000.
Universities UK sent City News the following statement:
‘We hope that employees recognise that changes are necessary to put the scheme on a secure footing, and that the proposed strike action will only serve to unfairly disrupt students’ education.’
Sally Hunt, general secretary of the UCU, has issued warnings that the lecturer walkouts, if the conflict will not be resolved on time, could continue into students’ exam periods.
While some students vow to stand by their teaching staff during the strike, many are upset that they will lose 14 days of academic hours that they paid a lot of money for.
Students from most affected universities have started petitions, including City, University of London.
Petitions list request for refunds for the lessons that students will miss.
Sir Paul Curran, President of City, University of London, told City News that he understands why students are upset as the teaching staff’s pensions are not related to them in any way.
The UCU has estimated that the strike will go on until Friday, March 16.
