Motion
- Motion title
- Impact of UK Pensions Act
- Session
- 2020-2021
- Meeting link
- Annual Congress
- Meeting date
- 29 May 2021
- Status
- Remitted
- Motion
- 51
- Motion text
Congress notes:
The Pension Schemes Act 2021 was passed by the UK Parliament in February 2021. In addition to long-term funding objectives and new powers for the Pensions Regulator (TPR), it introduces a framework for collective defined contribution (CDC) schemes called collective money purchase in the Act. This represents a compromise alternative to defined benefit schemes such as the USS pension. It opens the door to a new type of pension that is beneficial to university management and less so for members.
Congress urges:
UCU to conduct an urgent review of the potential impact of the Act and report this to all members. Also, to seek an assurance that all members currently in direct benefit pension schemes or in receipt of such pensions are fully protected.
- Proposing body
- Scottish retired members
- Amended
- No
- Allocated to
- Strategy and finance committee (SFC)
- Notes
Administrative info
- Listing reference
- 2021/C/05-29/174/51