Unions want the government to review the retirement age for staff enrolled in the Teachers\u2019 Pension Scheme (TPS).<\/p>\n
Currently employees whose universities participate in the scheme do not qualify for their full benefits until they reach the state pension age, which is due to rise from 66 to 67 by March 2028.<\/p>\n
The University and College Union (UCU) has joined other teaching unions to demand a review of the rule, which was introduced in 2015 following a recommendation in the 2011 Hutton report on public service pensions.<\/p>\n
They have written to James Murray MP, the new chief secretary to the Treasury, pointing out that the same review also said this link should be reviewed regularly but it has never been looked at.<\/p>\n
The unions argue that life expectancy has \u201cslowed and been significantly impacted by Covid\u201d over the past decade, with the latest estimates of life expectancy at birth back to the same level as 2010 to 2012 for women and slightly below the 2010 to 2012 level for males.<\/p>\n
The letter, which was also signed by representatives from the National Education Union and the Association of School and College Leaders, says that a review is needed to be \u201cfair\u201d to scheme members.<\/p>\n
It continues: \u201cThe issue of the teachers\u2019 retirement age is one of the most important pensions issues for teachers and, as scheme member representatives, we seek action by this Labour Government.\u201d<\/p>\n
Jo Grady, general secretary of UCU, said: \u201cAs scheme member representatives, we want the government to implement the Hutton report\u2019s recommendations.<\/p>\n
\u201cIt called for a review of the pension age to ensure the appropriateness of the link and fairness in retirement.<\/p>\n
\u201cNow life expectancy is beginning to stall it isn\u2019t fair that college and university staff are being forced to work ever longer to get their full benefits when they are less likely to have the long lives that will allow them time to enjoy their retirement.\u201d<\/p>\n
Universities\u2019 participation in the TPS has come under scrutiny in recent years<\/a> after employer contributions were hiked last year.<\/p>\n Vice-chancellors say the costs have become unaffordable and have called for the government to let them opt out of the scheme, something that is said to be under consideration by ministers.<\/a><\/p>\n Most of the universities offering TPS are post-92 institutions, with others participating in the Universities Superannuation Scheme, which also links pension age to the state retirement age.<\/p>\n