When I was offered the role of Chief Pensions Officer at USS, the high calibre of its people and its commitment to quality and value really appealed to me. Recently, I’ve been reflecting on if and how my initial expectations, shaped from the outside looking in, have been met or changed over the course of my first 100 days in post.
Defined benefit pensions have long been a valued element of the total reward enjoyed by colleagues in the higher education sector.
What makes USS such a great place to work? We asked our colleagues to share their thoughts.
As the principal pension scheme for some of the country’s leading higher education institutions, we asked our colleagues to share their memories of student life and their journey to USS – where they look after the retirements of the people who taught them.
Financial markets have been analogous to Spain’s world famous Pamplona bull run over most of the past decade, with equities leading the charge. Born out of the financial crisis, quantitative easing and the search for real returns have engendered an asset price boom
Every three years, the Trustee must make judgements about how various expectations and risks will play out over the long-term and the short-term that could influence the scheme’s ability to pay members’ benefits. It must also review whether recent experience has met with previous expectations, and respond accordingly.
The issue of the ‘right way’ to fund USS pensions has generated much debate. On the one hand, the trustee is accused of being recklessly prudent in its funding assumptions, and so requiring contributions that are unnecessarily high.
Earlier this month, the world’s media reported on the stark warnings contained in a report published by the Intergovernmental Panel on Climate Change (IPCC).
There has been no shortage of commentary on USS over the last year. It has come from many sources, with various motivations. I sympathise with our members, who would like, I am sure, a simple, unfiltered account of how USS has performed.