1. UCU is balloting for industrial action at USS institutions over ‘reforms’ proposed by UUK
UCU members should have received an envelope like this:
If you haven’t received your ballot papers in the post by 8 December, let us know and we will arrange to get another set sent out to you.  (Please check that we hold the correct mailing address for you.)

2. UCU is recommending that members vote ‘yes’ and ‘yes’
Whichever way you vote, PLEASE VOTE
This ballot will only be valid in law if turnout at the University of Aberdeen is >50%

3. Why UCU balloting for industrial action
On 17 November 2017, Universities UK (UUK) proposed:
That the Defined Benefit section (the Career Revalued Benefits section) of the USS be closed to further accruals, by setting the salary threshold (currently £55,550) to zero
That all future pensions contributions go into the USS’s Defined Contribution section

4. Why UCU balloting for industrial action
If UUK’s proposals are implemented:
The link between years’ service, salary and the pension that we receive will be broken for future pension contributions
Instead, our future pension contributions will go into an investment pot, the value of which will go up or down depending on how well our chosen investments perform
This means that we might get less out than we paid in

5. UUK proposals for USS – the impact on us
UUK’s proposals will result in:
A complete transfer of the risks associated with pensions provision from our employers onto us
UUK’s proposals are almost certain to result in:
A significant reduction in the pension that we receive when we retire
First Actuarial has modelled the impacts of UUK’s proposals…

6. Case study 1 Non-professorial academic, joining at 38, retiring at 68 (30 years’ service), progressing from spine point 37-50

7. Case study 2 Professorial academic, joining at 38, retiring at 68 (30 years’ service), progressing from spine point 37 to 48 then professorial bands C to A

8. USS’s September 2017 figures show that its funding position has improved since 2014
'best estimate' surplus £3.5 bn, or 8.4%
technical estimated deficit £5.3 bn, or 12.7%
'best estimate' surplus £8.2 bn, or 13.7%
technical estimated deficit £5.2 bn, or 8.7%
However, following an intervention by the Pensions Regulator, the assumptions have been tightened further and the deficit has been raised to about £7.5bn

9. Source: First Actuarial (UCU’s actuary)