The University and College Union has voted to reject proposals agreed by the union and Universities UK over pension pay, meaning lecturers will continue to strike.
Negotiators drew up plans for a three-year transitional period that would have included temporary contribution increases at a level of 19.3 per cent of salaries for employers and 8.7 per cent for members.
The deal would also have included the formation of an independent group of experts whose views would have informed the next Universities Superannuation Scheme actuarial valuation.
The methodology used to assess the £60bn scheme’s funding position has been a subject of conflict between the sides of the dispute.
The scheme’s accounts for March 2017 indicate a deficit of £17.5bn on an FRS 102 basis. The UCU's best estimate of its funding position stands at an £8.3bn surplus.
