UK - The Universities Superannuation Scheme's contested switch to career average is set to go ahead this Autumn following a decisive meeting yesterday approving the changes.
The switch to career average revalued earnings was approved at a meeting of the USS Joint Negotiating Committee after its independent chairman Sir Andrew Cubie was forced to use his casting vote to break the deadlock and push the changes through.
It follows a 10-month stand off between employers and the University and College Union over changes to the USS, which had originally been planned to take effect on 1 April.
The UCU has previously refused to attend the JNC meeting, saying it was "rubber stamping" exercise.
It is understood the five UCU members of the JNC had been threatened with legal action making them personally liable for costs if they did not attend yesterday's meeting.
Sir Andrew Cubie said: "I was deeply disappointed that the employers and UCU were not able to reach agreement on these important issues.
"In these circumstances I was again obliged to exercise my casting vote on proposals which I believe will help to ensure the long-term sustainability of USS."
The UCU called the USS actions "disgraceful" and said it would now ballot members for more industrial action.
UCU general secretary Sally Hunt said: "I have tried and tried again to persuade the employers to negotiate and resolve this increasingly bitter dispute sensibly.
"They simply refuse to share even one penny of their massive savings with staff and have forced the proposals through using the threat of legal action on ordinary union members. That, in my judgment, is disgraceful."
The Employers Pension Forum welcomed the changes. A spokesperson said: "Yesterday's outcome follows nearly three years of intense negotiations, discussions, consultations and decision-making on the appropriate process.
"These moderate changes will enable USS to remain sustainable, attractive and affordable for all: employers and members, current and future."
It is understood the changes will come into effect in October.
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