UK: Disquiet over motives behind pension overhaul

Controversial plans to cut benefits in higher education's £30 billion (US$46.9 billion) pension fund have prompted staff rebellions at a growing number of universities, as evidence has emerged that employers want to slash their contributions to the scheme, writes John Morgan for Times Higher Education.

The Universities Superannuation Scheme and higher education employers are consulting staff on proposals that include ending final-salary benefits for new members, introducing a pension age of 65 for all members, and linking pension increases to consumer price index inflation, with a 5% cap. Opponents of the changes say that an unpublished document reveals that the real agenda behind the employers' push to introduce career-average pensions for future members is drastic cost-cutting - a position never publicly stated.
Full report on the Times Higher Education site