Accept a role as guarantor to the USS pension scheme
The USS pension deficit is due to a "self sufficiency in gilts" valuation method that models what would happen if the pre-92 universities went bankrupt. If Government believes this is possible, this would be a national tragedy! They should therefore indemnify USS, until the next valuation at least.
USS is a private pension scheme with 350 member employers. The university dispute rests on a valuation method in which the Government’s Pension Regulator has played a key role. But this method assumes "the employer" goes bankrupt, which in the case of USS means all (or a sizeable proportion of) pre-92 universities. This should be politically unthinkable. We therefore call on Government to indemnify USS and the Trustee Board against employer bankruptcy, for the current valuation cycle at least.
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Currently ranked 1,203 out of 1,862 open petitions, and 25,334 out of 98,557 petitions ever created.
Wednesday 14 March 2018
Thursday 13 September 2018