University and College Union branches are furiously opposing a proposed ACAS settlement of the USS pensions strike.
After ten days of strike action employers finally offered a deal of sorts. But the deal is a bad one. Pension contributions will go up to 8.7% from 8%; the accrual rate will go down to 1/85 salary a year from 1/75, and pensions will only be guaranteed on salaries up to £42k (about the third point on the main lecturer scale) instead of the current £55k (roughly the top of the senior lecturer scale). Worse, the deal is a ‘transitional’ one for three years, with a dangerous