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Tag Archives: USS
The USS valuation and a way forward
The controversy over the University Superannuation Scheme’s current valuation sums up all that’s gone wrong with defined benefit pension schemes. Let’s start with the view of John Kay, one of Britain’s most respected and outspoken economists. John Kay, one of … Continue reading
Posted in pensions
Tagged #USS, John Kay, John Ralfe, Kevin Wesbroom, Mike Otsuka, Pensions, Sam Marsh, USS
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USS and the risks of power over other people’s wealth
In political science and popular discourse,[1] the horseshoe theory asserts that the far-left and the far-right, rather than being at opposite and opposing ends of a linear political continuum, closely resemble one another, analogous to the way that the opposite ends of a horseshoe are close together. ..Proponents … Continue reading
USS’ view of investment returns is anything but prudent – Keating
Once is chance, twice bad luck, but three times – “Enemy Action” USS has been at it again. On March 1 2021, they published a paper entitled: “The difference between our expected investment returns and our prudent assumptions”. The paper … Continue reading
Nick Hillman’s “USS trilogy” reviewed
HEPI (the higher educational policy group) has published three blogs on its website authored by Nick Hillman (pictured). The website hasn’t attracted much comment so I asked Con Keating to send me his. “Idiosyncracy” as a euphemism. When I accepted … Continue reading
The USS needs a plan that we all can understand
I am not smart enough to add much to the academic debate pursued by Professors Michael Bromwich and Dennis Leech , the venerable Con Keating and the scholarly Woon Wong. Readers looking for the views of Ros Altmann can find … Continue reading
Con Keating calls the “obscurantism” of USS
In recent weeks we have seen blogs from Professors Emeritus Michael Bromwich and Dennis Leech both addressing the travails of USS. The blogs can be read here and here respectively. Professor Bromwich’s note is a particularly good attempt at piercing … Continue reading
“Assumptions are dangerous” – Bromwich on USS
Universities Superannuation Scheme (USS): A consultation for the 2020 Valuation[1] Some General Views Michael Bromwich [a] Assumptions are dangerous things to make, and like all dangerous things to make, bombs, for instance, or strawberry shortcake, if you make even the … Continue reading
Weathering the Storm
Iain Clacher & Con Keating As part of our Funding Code research, we searched for academic or practitioner papers covering long-term expected returns forecasts. We were particularly interested in the ex post accuracy of these forecasts. We found none which … Continue reading
Posted in actuaries, advice gap, age wage, pension genome, pensions, risk
Tagged #USS, CETV, DB transfers, ppf, Ralph nader, USS
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Sam Marsh’s response to TPR’s DB Funding Code
Sam Marsh is a lecturer and branch president of the Sheffield UCU. He has responded on his own behalf to TPR’s consultation. Continue reading
Posted in age wage, pensions, USS
Tagged Consultation, DB Funding Code, pensions, Sam Marsh, TPR, UCU, USS
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The USS needs a 2021 Valuation- Michael Bromwich
In finalising the 2018 valuation the USS committed to a further out of cycle valuation as at the 31 st March 2020. This allows consideration of the recommendations of second report of the Joint Expert Panel (JEP) and the incorporation … Continue reading
