Please abandon the plans to close PASNAS, the Defined Benefit pensions scheme for the lowest paid staff at the University and replace it with an inferior Defined Contribution pension scheme.
Why is this important?
PASNAS is not in financial difficulty. The unnecessary proposals will transfer all of the risk of the financial markets entirely onto the shoulders of the scheme members themselves, and damage the futures of the University's dedicated and hard-working support staff, leaving them without adequate financial security in their retirement.
This pension is part of our pay package; the proposals actually represent a pay cut.
They could impact support staff at other Universities (who have similar pension schemes) and also in the wider public sector, where there has been a constant erosion of Terms and Conditions, and pay cuts resulting in many low-paid workers having to struggle to make ends meet.
