Universities UK misleading staff? Leeds management’s position?
We are curious to know if the leadership at our university agree with the position from the University of Oxford on the issue of recently released pension projections. Oxford state that the UUK figures comparing the current scheme with the proposed pensions scheme are “misleading because they assume no promotion or incremental salary increases over time”.
Our University’s management has not yet made clear if they agree with Oxford, and they may therefore be content with modelling that does not assume promotion or incremental salary increases. They have not yet made their position clear on this matter.
The University of Oxford’s working party state: “We feel that we should show our staff examples based on a realistic and typical careers, including the kind of promotion that they might reasonably expect.”
It is noteworthy to see a University management recognising an obligation to speak for their staff in this way, and recognise a need to give staff appropriate data and information. Until we hear otherwise, at Leeds we can only for now assume our management are satisfied with the briefing illustrations that they have been given that do not do represent typical career progressions (and therefore mathematically downplay the damage to retirement pension that the proposals they promote will cause).
UCU have not only made their actuarial calculations available, they have also made the actuarial assumptions fully transparent. To date, The Employers’ Pension Forum has not.
Given the EPF’s embarrassing climbdown on over-exaggerated mortality figures, we’re seeing a theme develop here.