‘Urgent review’ of TPS needed as more universities seek exit

Universities that employ new academic staff in subsidiaries so they can put them in their own pension schemes (usually with an employer contribution maxing at about 10%) make it much harder to employ new high quality teaching staff and researchers.

USS a significant investor in Thames Water - watch this space.

State schools and FE colleges are public bodies so extra taxpayer funding to cover the cost of TPS as a gold-plate DB scheme is reasonable, but the post-92 Us are private bodies and, just like when the pre-92s faced a hike in USS rates, it would be wrong for the taxpayer to bail out such Us. Us can’t have it both ways - defending their precious autonomy but at the same time seeking handouts as if a nationalised industry.