NaokoSmith
Honourable Slut
- Joined
- Jul 10, 2012
- Posts
- 9,973
Now, before you start, it has been EXCEPTIONALLY busy. Any of you who live over here in Old Blighty will have seen in the news that there has been unusual activity not only across the university sector, but even and also in the Old University where I happen to work.
First, we all went out on strike over our pensions. Basically, the universities realised that our pension fund is regarded as a liability by banks off which they wish to borrow huge sums of money to build swanky new buildings (not many of which are any good for teaching or research
- this is called neoliberalism, and doesn't actually have anything to do with education
). So they cobbled together some crappy figures to try to show that the pension fund was in a dreadful hole, and suggested it be completely overhauled.
We have a defined benefits pension, which pays out the salary contributions we have put aside into it in an agreed amount on our retirement. Our employers and pension fund managers suggested this be changed to what is technically known as a 'chocolate teapot'. It would be invested in the riskiest areas of the stocks market, and just pay out whatever the fund managers earned on it. NB they had taken the fund in-house and had already lost a lot of money on it
By a complete coincidence, doing this would change the pension fund into an asset from a liability in the eyes of big banks from which the employers wanted to borrow money
BUT, if you are going to try to bamboozle people about their pension fund investments, then it is probably better to do this to a the members of a knitting and coach trip to Margate club. Trying to do this to academic experts in statistical analysis, Emeritus Prof.s in Economics and people who give lectures on pension funds is not really a smart thing to do.
Plus, we had enormous public sympathy from the general public, as practically everyone agrees that if you work hard and have put some of your salary aside for the purpose, you should be entitled to have it back as your pension at the end, when you can no longer be exploited ... be employed, in your chosen industry
So I was busy going on the picket line - sometimes in the snow, sometimes in spring sunshine - and taking part in very jolly rallies, where people dressed up as Star Wars and Star Trek characters.
As I teach mostly on Saturdays, which hadn't been designated strike days - I had to work AND go on strike! which seems a bit unfair, but hey ho.
Anyway, we won!
- well, some people are not sure because we all know the employers are slithy toves, but we hope we have won and we have been able to suspend strike action for now 
First, we all went out on strike over our pensions. Basically, the universities realised that our pension fund is regarded as a liability by banks off which they wish to borrow huge sums of money to build swanky new buildings (not many of which are any good for teaching or research
We have a defined benefits pension, which pays out the salary contributions we have put aside into it in an agreed amount on our retirement. Our employers and pension fund managers suggested this be changed to what is technically known as a 'chocolate teapot'. It would be invested in the riskiest areas of the stocks market, and just pay out whatever the fund managers earned on it. NB they had taken the fund in-house and had already lost a lot of money on it
By a complete coincidence, doing this would change the pension fund into an asset from a liability in the eyes of big banks from which the employers wanted to borrow money
BUT, if you are going to try to bamboozle people about their pension fund investments, then it is probably better to do this to a the members of a knitting and coach trip to Margate club. Trying to do this to academic experts in statistical analysis, Emeritus Prof.s in Economics and people who give lectures on pension funds is not really a smart thing to do.
Plus, we had enormous public sympathy from the general public, as practically everyone agrees that if you work hard and have put some of your salary aside for the purpose, you should be entitled to have it back as your pension at the end, when you can no longer be exploited ... be employed, in your chosen industry
So I was busy going on the picket line - sometimes in the snow, sometimes in spring sunshine - and taking part in very jolly rallies, where people dressed up as Star Wars and Star Trek characters.
As I teach mostly on Saturdays, which hadn't been designated strike days - I had to work AND go on strike! which seems a bit unfair, but hey ho.
Anyway, we won!
- well, some people are not sure because we all know the employers are slithy toves, but we hope we have won and we have been able to suspend strike action for now 


, not really, they did it in a kind of garden somewhere) and took a group photo holding up signs saying 'No Confidence' which they tweeted publicly. 

