The University of Salford, which has lived through some tumultuous times with staff over the last decade, is set to announce a deficit of £48million related to pension schemes.
Its accounts, when published, will show a £32.3million 'additional pension charge owing to its membership of the Universities Superannuation Scheme', and a £17.8m 'actuarial loss in respect of the Local Government Pension fund', which gives the total figure of a £48million loss.
Now the University's Vice Chancellor, Helen Marshall, has written to staff, insisting that there's nothing to be concerned about...
"I appreciate that reporting a pension deficit may create a feeling of uncertainty, but I want to reassure you that the underlying performance of the university remains very strong" she states "We have managed the increasing cost pressures through careful financial management and have grown our income by 3.6% (£7m) on 2017-18. We have continued to see year on year growth and are now the 4th fastest growing university for undergraduate recruitment in the UK..."
Earlier, the University responded to the Salford Star's request for a comment...
"It is worth pointing out that we have no plans for compulsory redundancies... We...believe that we can continue to manage the short term uncertainties through the use of existing measures..."
Salford University is currently in bed with Salford City Council over an £800million 'city district' around the Crescent featuring new buildings, apartments, houses and student accommodation, and was also planning to develop its old student blocks at Castle Irwell into housing before selling the site to bookmaker Fred Done (see previous Salford Star article – click here).
After reassuring staff in her newsletter, Helen Marshall ends with a snippet about the launch of a new Greater Manchester University Mental Health Service... "If any of our students need help, they can come to our Counselling and Wellbeing team for assessment and, if appropriate, will be referred on for more specialist intervention at the new centre" she states.
Who knows what is going through the minds of staff at the moment, given the University's past treatment of its lecturers...
For background see previous Salford Star articles...
Ex-Vice Chancellor Who Organised Staff Sackings Paid Almost £400,000 - click here
Salford UCU Passes Motion Condemning University 'Corrupting Our Profession' After Professor Sacked - click here
Main photo by Steven Speed
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