(6 years, 5 months ago)
Commons ChamberAs I mentioned in my earlier answer, the agreement on the table was brokered between both parties by ACAS. The dispute is between the universities, which are autonomous organisations, and the lecturers. This is a private pension scheme and one of the country’s largest, with nearly 400,000 members and more than £61 billion in assets. The cost to the taxpayer of underwriting such a scheme could be significant, and any further Government involvement in supporting the USS would need to be considered very carefully.