UCU: USS reform: no detriment, enhance, divest and improve the pension

Motion

Motion title: USS reform: no detriment, enhance, divest and improve the pension

Motion text: HESC notes that:
1. There is at least a £30bn surplus at USS even if 30 years of depression and war followed: we can stop the cuts.
2. USS lost £500m in Russian investments in 2022 instead of divesting all fossil fuels in 2020 as members wanted
3. USS directors are unaccountable, and have overseen cost inflation from £38m in 2007 to £160m in 2020.
HESC believes we can reverse the cuts and resolves that:
a. UCU must table a no-detriment proposal at the JNC to protect members’ benefits: enhance the pension.
b. We must elect at least half of USS directors.
c. USS costs must be reduced and contribution rates lowered.
d. USS must divest from coal, oil and gas, and have a shareholder voting policy that follows members’ views.
e. UCU must have a credible legal strategy, and support the ‘Save university pensions, and save the planet’ case.