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Lecturers pension plan could be reversed.

Lecturers pension plan could be reversed.

University bosses say they could reverse changes to lecturers' pensions if economic conditions improve.

As strike action continues for a second day at 57 universities, the employers' group, Universities UK, has written to pension scheme members offering to explore alternative ideas.

The University and College Union (UCU) says current plans will leave a typical lecturer £10,000 a year worse off.

About 90,000 students have now signed petitions asking for fee refunds.

Under the existing plans, the Universities Superannuation Scheme will change from a defined benefit scheme, giving members a guaranteed income in retirement, to a defined contribution scheme, where pensions are subject to changes in the stock market.

The employers say changes to the pension are needed because the scheme has a deficit of more than £6bn, but the union disputes the figure, saying the evaluation method used was "recklessly prudent".

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