Some unlucky stocks picked?
Private – does that mean opaque rather than transparent?
Is this delivering value for money?
Con Keating doesn’t think so
The rosy funding statements are based on accounting and actuary reporting
Which is why poor investment performance has been ignored by most pensions folk
There are some good stories
Comparison with performance with others may not be liked but is it unfair?
Iain Clacher sees an improvement in the USS investment outlook and Chair Barker is of the same view.
A changing picture at USS for all parties
Pretty well off academic pensioners.
This is a much better story than ten years ago when the scheme was threatened with closure as a defined benefit arrangement.
The DC plan is primarily used to pay tax free cash for those with healthy DB pensions and contribution rates remain healthy by comparison with those paid to most pure DC members of other schemes. Con Keating is right to point out that USS has not yet achieved performance to give it anything to crow about and Iain Clacher’s optimism is yet to be born fruit!
It is however good to see USS open and proving the sceptics 10 years ago, very wrong.