Tag Archives: USS
Thames Water: What Could Investors Have Known Beforehand?
Published on the day the FT broke the story that USS had written down £600m of its investment in Thames Water, EDHEC point to what went wrong and how it could have been avoided by better analysis of available data. … Continue reading
USS comes clean about its Thames Water holdings.
Interim Co-CEOs, Cathryn Ross and Alastair Cochran told the market in September “Turning around Thames will take time. We simply cannot do everything that our customers and stakeholders wish to see at a pace and for a price that … Continue reading
USS 2023 pension valuation agreed in harmony; sanity is restored
The management of USS over the past few years has been atrocious. Just how damaging can be seen from a thread produced yesterday on twitter, a thread that suggests that the new management is learning a little about member … Continue reading
USS pension dispute is over.
I am very pleased to hear that the 5 year long pensions dispute between the UCU Union and UUK over the funding and benefits arising from the USS pension scheme is over. It’s over because all sides have agreed that … Continue reading
Benefits restored as USS moves towards partial CDC.
BREAKING: 2022 cuts to pensions for thousands of university sector workers are to be reversed under an agreement between unions and the university sector.https://t.co/GXnAmgOF0T — Josephine Cumbo (@JosephineCumbo) October 5, 2023 This is great news for members of the USS … Continue reading
Do hybrid pensions make sense- USS?
I’ve been thinking over the weekend about hybrid pension structures, pension schemes that provide a defined benefit for core earnings – say the first £40,000 you earn and a top up contribution against earnings above this amount, which provides a … Continue reading
16bn reasons why USS was saved by the discount rate
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
Posted in pensions
Tagged Bill Galvin, dc, LDI, Pensions, Private Equity, Simon Pilcher, USS
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Little cause for celebration from USS valuation
USS – no time for complacency The headlines are good. USS is wearing a surplus of over £7bn rather than a deficit of £14bn, it is proposing a contribution schedule that makes pensions affordable to employers and (if the 65/35 … Continue reading
USS shows its workings – including a £16bn fall in assets in a single year
The USS has published its April 2023 Valuation Technical Provisions which can be downloaded here You can read them on the presentation at the bottom of the document (without a title page). Well done USS for sharing them. The headline … Continue reading
The fate of Thames Water is in the pension funds’ hands.
As this collection of headlines shows, the FT places the importance of Thames Water’s future at the top of its weekend agenda. The article, which I reported on yesterday, makes it clear that USS – the university pension scheme, is … Continue reading