19 October 2011
USPS Changes – additional benefits offered to unions
Following a series of recent meetings held between the University and representatives of Unite and Unison in September and October 2011, a package of additional benefits has been presented by the University with the aim of improving the new pension arrangements for members and resolving the current dispute over changes to USPS.
The additional benefits offered by the University would enable current members of USPS, who have already built up benefits in the final salary section, to use their Flexible Retirement Plan to purchase additional service in the final salary section when they retire, with the University guaranteeing certain minimum levels of service, for a specified period.
The Flexible Retirement Plan would also enable staff on grades 1 and 2 to join and build up benefits equivalent to five per cent of their salary at no cost to themselves for a limited period, to provide a stepping stone to further, higher level retirement savings at a later date.
Both Unite and Unison are holding branch meetings this week at which they intend to share details of the offer with their members. Details of this package can be found at www.sheffield.ac.uk/uspsreview.
There will be further communications with staff once the unions have discussed the offer at their branch meetings.