The University has been consulting with trade unions, members and potential members of UBPAS regarding potential changes to the scheme.
The consultation period closed on 28th September. Taking account of the feedback received and following a post-consultation period meeting with the trade unions, the University has agreed with the Trustees that:
These changes are in line with the proposals set out at the beginning of the consultation period.
We remain absolutely committed to making an appropriate level of pension provision for all our staff and we will be offering a new Defined Contribution Scheme to relevant staff with effect from 1st October. Details of the scheme will be finalised in due course and we will publicise these as soon as possible.
Our consultation process demonstrated that individuals value the scheme and their current benefits very highly. We are therefore pleased that we have been able to work together to achieve what we believe is an acceptable outcome for all, whilst recognising that the additional contribution costs place a burden on both the University and individuals in what are already difficult times.
All staff affected by these changes will receive a written communication shortly.