Pension strike: university staff are getting a ‘Die Quickly’ pension plan. It won’t work. | British Politics and Policy at LSE

Second, we need to make pension governance accountable. USS is a big, multi-employer pension plan. It should eliminate inflated costs, and take asset management and corporate voting completely in-house. Nobody on its board should have possible conflicts of interest from their professional background: that includes asset managers like JP Morgan, and mining corporations like Rio Tinto. The most successful pension fund is the Church of England scheme, which has done what the asset management industry said was impossible: it made money with ethical investment, and is divesting from fossil fuels. UCU should get a majority of staff representatives on the pension board, and conduct direct elections for USS members. This will strengthen USS and UCU by engaging staff in union and pension policy. When people have a stake and a voice, they will not let go. They are the experts. They will not let anything like this happen again.

via Pension strike: university staff are getting a ‘Die Quickly’ pension plan. It won’t work. | British Politics and Policy at LSE

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