Tag Archives: USS

A brave and timely response to UUK’s proposals


  I was wondering how to react to news that the UUK (the employers of university staff) is proposing to axe future Defined Benefit accrual into the USS. Anger or sorrow seemed the two main candidates as I flew back last night. I was … Continue reading

Posted in advice gap, pensions, Trades Union Congress | Tagged , , , , , , | 5 Comments

We need to learn to love the PPF more


Hilary Salt asks “rather than designing new DB superfunds, wouldn’t it be better to grow to appreciate and improve our existing superfund?” It must be frustrating for the Pension Protection Fund (PPF) when the public perception is that to end … Continue reading

Posted in actuaries, pensions | Tagged , , , , , , , | 1 Comment

USS – the plot thickens!


Correspondence has emerged between the various macro-stakeholders in the USS “pension deficit” The cast in order of appearance Frank Field – Chair Elect of the Work and Pensions Committee. Here he is kicking off correspondence in August with….     … Continue reading

Posted in pensions, USS | Tagged , , , , , , , | 12 Comments

TPR- the price of pensions can fall as well as rise.


The Pensions Regulator appears to have forgotten one of the fundamental laws of gravity-  “what goes up, must come down”. In consumer finance this translates into “the value of investments can fall as well as rise” and in the case of the … Continue reading

Posted in Bankers, pensions | Tagged , , , , , | 10 Comments

Pure DC at your university? Mike Otsuka speaks out


Mike is now a regular writer on this blog; he’s an LSE philosopher, a member of the USS pension scheme and an expert in pensions (not a “pensions expert”).   Southampton has come out in favour of closing USS’s defined benefit … Continue reading

Posted in accountants, actuaries, pensions | Tagged , , , | 5 Comments

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


  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

Not the time to butcher teacher’s pension benefits.


My little break in France was rather spoiled when I read Jo Cumbo’s articles on the potential “remedies”  Universities UK are considering to correct their supposed pension funding deficit. For those who can’t follow this link, these include Lowering the salary … Continue reading

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


  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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Transparency as disinfectant


Wherever possible – organisations should aspire to be transparent in their dealings, sharing information with all stakeholders. Bank wins by being straight with customers Making information difficult to access causes problems. My friends at Quietroom tell the story of how, … Continue reading

Posted in accountants, actuaries, advice gap, pensions | Tagged , , | 2 Comments

Con Keating’s letter to Frank Field


Today is Con’s 70th birthday. Here he is in irrepressible form, standing up for USS and giving another elder statesman some sensible advice. An Open Letter to the Right Honourable Frank Field, MP By email. Re: Universities Superannuation Scheme (USS) … Continue reading

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