Tag Archives: USS

#beetroots, #biscuits – how the battle for truth @USS is being won.


I find myself embedded in a bizarre discussion on #transparency between some of the brightest bods on twitter. This ill becomes me, I am out of my depth, a TUC cracker in the posh biscuit barrel. #beetroot #biscuits pic.twitter.com/Hywkpf8U2W — … Continue reading

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Bill Galvin – on accountability at #USS


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

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FABI surplus continues to soar, as USS accounting deficit falls dramatically.


Much like daily temperatures , First Actuarial’s Best estimate (FAB) Index soared through  June , and the heat is on for those who’ve weaponised accounting deficits. The Universities Superannuation Scheme (USS) has announced a dramatic fall in 2018. The FAB Index – which provides … Continue reading

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The Financial Scientologists


  Paul Lewis is absolutely right in attacking the dogmatism that religion creates. People may be spiritual, without imposing their views on others, but when someone’s dogma overtakes their sense of humanity, they become strangely inhuman. This is what accounts … Continue reading

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Reckless Prudence; How to break a pension system


George Cooper has just produced an article, re-published here, which I very much enjoy. I’m not the only one. Every #USS member should read @FixingEconomics‘s “Reckless Prudence: How to break a pension system” (link). Some quotes and comments in the … Continue reading

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Otsuka finds balm for USS’ “forty year itch”


    With remarkable restraint , Mike Otsuka reports on conversations he’s had with the USS on unknown unknowns. We do not know what the future brings, but past performance suggests that universities do not fail as people need higher … Continue reading

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University pensions! – Stay collective! Stay open!


Another good day for pensions! Yesterday was a good day for the collective pension scheme in Britain. I had breakfast at Cicero’s offices in the Old Bailey (not the courts). I was able to hear our Pensions Regulator talk openly about … Continue reading

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Why the USS got itself into trouble ( Mike Otsuka).


Mike Otsuka’s extraordinary diligence in understanding the pension scheme he is a member of, is an example to us all. In this article he delves into the archives and uncovers some disturbing statements. They shed light on the current “unaffordability” of … Continue reading

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USS – thoughts from off the campus


The situation at USS is like a medieval siege, where both sides are at Parlez. The threat of violent action has not gone away, but the talking holds some hope of a resolution. Since the nuances of those talks are … Continue reading

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“Too prudent for its own good” – how under-risking DB schemes causes new problems.


Someone , somewhere on the multiple threads surrounding USS, has asked me if I think that transfers out of USS are likely to be the next miss-selling scandal.  I think it unlikely, and to explain why, I need to explain … Continue reading

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