SEWN: Defend Higher Ed Pensions

IWW Scotland

PensionsDEFEND HIGHER ED PENSIONS

The pensions of the staff at Scottish universities covered by the USS pension scheme are under attack. Staff with many years of service and who are preparing to retire are now being told that their pensions will be worth far less than they expected. This is unfair, and all education workers and students need to organize to stop this from happening.

University management insists that the cuts are necessary because of the turmoil in the stock market and the current low interest rates. Management wants to shift from a system where those retiring are guaranteed a certain pension based on their salaries and length of service, to a system where staff pay a certain percentage of their income into the pension fund and then confront the uncertainty of receiving an indeterminate pension upon retirement. All of the risk is borne by the individual and none by…

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