The member satisfaction rankings for the UK’s largest higher education pension pot, the Universities Superannuation Scheme (USS), have fallen again.
The USS scheme has almost 500,000 members at universities and colleges across the country, and was one of the main points of grievance in last year’s strikes. Its annual reports showed that the satisfaction rankings have fallen on last year, with just one in three members reporting a positive relationship with the scheme. In 2017, 38% of scheme participants viewed it favourably, compared to just 31% this year.
The Universities and College Union (UCU) placed UK universities on a strike warning at the end of June, with threats of walkouts later in the year if they failed to defend the pensions scheme.
Bill Galvin, USS chief executive, said in the annual report that:
It is clear that some members feel that we have not handled or communicated the complex issues we are grappling with as well as we might.
Jo Grady, UCU general secretary-elect, said:
It has been clear for some time that USS has lost members’ trust. That it has taken the annual report to alert those leading the scheme to this fact suggests they are worryingly out of touch.