USS warns of ‘sharp’ increase in costs as virus inflates deficit

Covid-19 has ravaged the USS’ ability to meet its promises

If universities don’t commit to underwriting a riskier investment strategy, pension contributions will have to rise sharply, says Bill Galvin

By Bill Galvin

10 July

Coronavirus: USS pensions could become ‘much less generous’

Radical changes may be on cards after stock market crash and interest rate cuts, say experts

By Jack Grove

23 March

UCU postpones reballots, but has strike fatigue set in already?

Some members increasingly wary after 22 days of walkouts already this year, but many remain determined to win concessions from employers on pay and pensions

By Anna McKie

17 March

UCU strike at Goldsmiths, University of London

Union says USS valuation proposals ‘ignore members’ views’

New documents show that economic downturn from coronavirus could lead to increased contributions

By Anna McKie

10 March

Reader's comments (1)

#1 Submitted by nicefreak on July 12, 2020 - 7:10am

Before Covid the logic was that asset valuation was too high, so USS could not invest profitably enough, leading to higher contributions. Now asset prices have come down and the logic seems to have changed, still aiming at pushing up contributions...

USS warns of ‘sharp’ increase in costs as virus inflates deficit

UK higher education’s biggest pension fund says Covid-related uncertainty on financial markets added £7 billion to shortfall in space of two months

Register to continue

Subscribe

Related articles

Covid-19 has ravaged the USS’ ability to meet its promises

Coronavirus: USS pensions could become ‘much less generous’

UCU postpones reballots, but has strike fatigue set in already?

Union says USS valuation proposals ‘ignore members’ views’

Reader's comments (1)

Sponsored

Featured jobs

USS warns of ‘sharp’ increase in costs as virus inflates deficit

UK higher education’s biggest pension fund says Covid-related uncertainty on financial markets added £7 billion to shortfall in space of two months

Register to continue

Subscribe

Related articles

Covid-19 has ravaged the USS’ ability to meet its promises

Coronavirus: USS pensions could become ‘much less generous’

UCU postpones reballots, but has strike fatigue set in already?

Union says USS valuation proposals ‘ignore members’ views’

Reader's comments (1)

You might also like

Northumbria staff threaten to strike over plan to switch pensions

Northumbria to freeze pay if staff refuse TPS-USS pension switch

Southampton Solent pensions row ‘sets concerning precedent’

Review retirement age rules for Teachers’ Pension Scheme – unions

Sponsored

Featured jobs