Professor Toope to ask the University Council to accept greater risk and cost as a bridge to a sustainable USS pension.
I have had many heartfelt messages from staff and students about the pensions dispute, and heard from many more in person. We must end the disruption to students, and quickly, but we need a solution that recognises the deep frustration felt by staff and maintains our appeal for scholars from around the world.
As you know from my previous statements, we have been working hard on developing ideas for both short and long-term solutions for this crisis.
I will be asking the Council to accept greater risk and cost in the short-term as a bridge to a sustainable long-term solution in the interests of the sector, the University and individual members of USS. We also support the calls by others for an expert academic group to look at the current valuation.
There is an Open Meeting on Friday with representation from the UCU to hear your concerns. We will arrange additional meetings if it would be helpful. I remain committed to finding a way through this impasse.