Tag Archives: Bill Galvin

16bn reasons why USS was saved by the discount rate

Posted on July 27, 2023 by henry tapper

Saved by the discount rate! — Richard Disney (@RichardDisney) July 26, 2023 Richard Disney’s verdict on the state of the USS pension scheme , which as I mentioned last week, is showing that it lost £16bn of its asset base … Continue reading →

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The reckless prudence of DB funding is immoral.

Posted on June 1, 2022 by henry tapper

There are obviously complications and nuances with any pension scheme. But the fact that an erroneous, ill-timed valuation made #USS benefits unaffordable due to unnecessary deficit recovery payments is as black-and-white as any matter of pensions can get https://t.co/H7RJnnObXS — … Continue reading →

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Guess what! USS isn’t bust any more!

Posted on May 31, 2022 by henry tapper

To no great surprise for readers of this blog, the notional deficit on the USS pension scheme has all but gone away , at least according to an interim valuation of assets and liabilities in March this year. In two … Continue reading →

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How will USS value itself today?

Posted on April 2, 2020 by henry tapper

  News has come in that the University Superannuation Scheme (USS) is going to press ahead with a valuation of its assets and liabilities as at the 31st March 2020. It reasons for it in a public statement. I had … Continue reading →

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The state of USS is the state of us.

Posted on March 19, 2020 by henry tapper

In normal times, USS reporting itself to the Pensions Regulator for being under-funded would be considered a major news story. But what Jo Cumbo reported as happening  yesterday is not headline news, it is a sideshow to what is being … Continue reading →

Posted in accountants, actuaries, advice gap, age wage, pensions | Tagged , , , , | 3 Comments

“The way we were” – Mike Otsuka calls for USS to return to Topper form.

Posted on August 27, 2018 by henry tapper

Here I distill my threads of the past few days into a single message: the @FirstActuarial & @ucu approach to the investment and valuation of #USS is not some radical new theory. Rather, it’s in line with the way #USS … Continue reading →

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Bill Galvin – on accountability at #USS

Posted on July 30, 2018 by henry tapper

If Jo Cumbo hadn’t mentioned it I’d have missed it. Bill Galvin- erstwhile CEO of the Pensions Regulator and now boss of the University Superannuation Scheme wrote a thought piece on the USS blog – it’s here. It’s a meditation … Continue reading →

Posted in pensions, USS | Tagged , , , , , | 3 Comments

Bill Galvin , stop whingeing to the FT and come down here!

Posted on March 18, 2018 by henry tapper

Bill Galvin would be well-advised not to snipe at social media for peddling misconceptions about the University Superannuation Scheme. Dennis Leech, Professor of Economics at Warwick concludes a recent article with the question will this independent group be subject to … Continue reading →

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Aren’t Employer and Union’s interests aligned at USS?

Posted on October 2, 2017 by henry tapper

  Adrian Boulding has left a comment on yesterday’s blog that is rather better than the blog itself. As I am on the last day of my holiday in Paris, I will blog the comment and add a few thoughts … Continue reading →

Posted in advice gap, DWP, pensions | Tagged , , , , , , | 3 Comments

Would a shift from bonds to growth assets keep the USS afloat? – Mike Otsuka

Posted on September 19, 2017 by henry tapper

  Michael Otsuka is Professor of Philosophy at the London School of Economics. He has also served as the pensions officer for the LSE’s UCU branch. This article originally appeared on Wonkhe.com, the home of higher education policy, people and … Continue reading →

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