The dates of the consultation process for all members of SAUL has now been announced – it will run from 13th July to 13th September 2015. All SAUL members and staff eligible for SAUL membership will shortly be receiving an e-mail about the proposed changes, but you can also access the consultation document on the SAUL website www.saul.org.uk/consultation/document.
Check out the intranet link for more info – https://intranet.london.ac.uk/6529.html
As before the IWGB recommends that all members respond to the scheme by rejecting the changes. At our last branch meeting people asked for alternatives, and we would suggest:
- there is an increase in the employers’ contribution, but only to 16%. They pay 18% into the USS pension scheme, so why can’t they do the same for SAUL?
- the employers took a ‘pensions holiday’ in the 1990s – they could pay into the scheme the money they saved then
- SAUL are taking a very subjective view of the scheme as requiring urgent change – the extent to which it is in ‘deficit’ depends on the way this is calculated, and they are using the calculation most amenable to their argument. They should reassess the actual long-term affordability of the scheme before rushing into abolishing the final salary element.