16 February 2022

KCL UCU notes

1. We are in the fight of our lives over USS and the 4Fights, with a threat to wreck the pension scheme in pre-92 universities.
2. The latest HEC acted against UCU’s nationally agreed strategy to keep the action on USS and Four Fights together
3. UCU proposals on USS call for a new moderately prudent valuation in 2022, with employers providing the level of covenant support they agreed to provide in their own proposals and finally employers and employees agree to an interim rise in contributions for the period to March 2023.
4. The proposal for a new valuation comes with the suggestion of accepting “current benefits or, if not possible, the best achievable” (proposal 3).

Our branch believes:

1. With £92b in assets, up from £64b in March 2021, our pension fund does not have a financial deficit, but a democratic deficit.
2. Increasing contributions to 11% immediately and rising to 11.8% in October 2022 abandons the element of our No Detriment policy that current benefits should be maintained for no more than current contribution rates.
3. Given the cost-of-living crisis and long-term decline in our purchasing power many of our lowest paid and precarious members will find it increasingly difficult to afford higher contributions
4. Suggesting that UCU would accept the “best achievable” benefits after March 2023 is openly against UCU’s No Detriment policy and disarms us in our future potential action to oppose pension cuts.

Our branch therefore resolves:

1. Any successful strategy must put precarious members, women and racialized minorities at the centre, and keep the pension and four fights disputes together.
2. We oppose temporary increases in contributions and any potential cuts to our defined benefits
3. We need to organize for escalating indefinite action in the months to come to bring about structural change in the governance of the sector
4. To achieve these demands, members need to be in control of our action 

KCL UCU therefore further resolves

1. To call on the UCU General secretary and the officers of the appropriate committee to organize an emergency Branch Delegates Meeting with voting rights and plenary interaction among delegates to decide on the next steps of the disputes before the next HEC meeting on 25 February 2022
2. To call on UCU to publish detailed information on its striking fund, which according to VP Mercer “has never been healthier”, and UCU’s ability to support indefinite and escalating action.
3. To publicise this call and organize with other branches so that members can take control of the disputes and organise to win.