At the heart of the pensions dispute
between university staff and their employers is a disagreement over how
much the pension pot is in deficit.
The universities want to
change the Universities Superannuation Scheme (USS) from a
defined-benefit scheme, which gives a guaranteed retirement income, to a
defined-contribution scheme, where their pensions would be subject to
changes in the stock market.Most defined-benefit pension schemes like this one have already closed.
Source: BBCNews
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