Defined Benefit  

Govt refuses to fund pension increases at universities

The University and College Union has also criticised the government decision.

Paul Cottrell, acting general secretary, said: "It is deeply worrying that the government has decided not to extend support to universities affected by increased Teachers' Pension Scheme costs.

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"The government is wrong to be relaxed about the potential financial problems that its decision will cause. We are seriously concerned about the impact the decision could have on staff and students, especially as many of these institutions are crucial drivers of social mobility."

maria.espadinha@ft.com